Editing Distributism (section)

== Economic theory ==
{{more citations needed section|date=February 2023}}

=== Private property ===
[[File:Three acres and a cow.JPG|thumb|180px|Self-portrait of Chesterton based on the distributist slogan "[[Three acres and a cow]]"]]

In ''Rerum novarum'', Leo XIII states that people are likely to work harder and with greater commitment if they possess the land on which they labour, which in turn will benefit them and their families as workers will be able to provide for themselves and their household. He puts forward the idea that when men have the opportunity to possess property and work on it, they will "learn to love the very soil which yields in response to the labor of their hands, not only food to eat, but an abundance of the good things for themselves and those that are dear to them".<ref>Pope Leo XIII, ''Rerum novarum'' : 47, 1891</ref> He also states that owning property is beneficial for a person and his family and is, in fact, a right due to God having "given the earth for the use and enjoyment of the whole human race".<ref>Pope Leo XIII, ''Rerum novarum'':  8, 1891.</ref>

[[G. K. Chesterton]] presents similar views in his 1910 book, ''What's Wrong with the World''. Chesterton believes that whilst God has limitless capabilities, man has limited abilities in terms of creation. Therefore, man is entitled to own property and treat it as he sees fit, stating: "Property is merely the art of the democracy. It means that every man should have something that he can shape in his own image, as he is shaped in the image of heaven. But because he is not God, but only a graven image of God, his self-expression must deal with limits; properly with limits that are strict and even small."<ref>Chesterton, Gilbert Keith, ''What's Wrong with the World'' (1920), p. 59.</ref>

According to Belloc, the distributive state (the state which has implemented distributism) contains "an agglomeration of families of varying wealth, but by far the greater number of owners of the means of production". This broader distribution does not extend to all property but only to productive property; that is, that property which produces wealth, namely, the things needed for man to survive. It includes land, tools, and so on.<ref>Hilaire Belloc, ''[[The Servile State]]'', 1913.</ref> Distributism allows society to have public goods such as parks and transit systems. Distributists accept that wage labour will remain a small part of the economy, with small business owners hiring employees, usually young, inexperienced people.<ref>{{cite web |last1=Baccelli |first1=Zebulon |title=Practical Policies for a Distributist Economy: Part Two |url=https://www.imagodeipolitics.org/2017/08/10/practical-policies-for-a-distributist-economy-part-two/ |website=imagodeipolitics.org |access-date=25 December 2019 |archive-date=25 December 2019 |archive-url=https://web.archive.org/web/20191225194559/https://www.imagodeipolitics.org/2017/08/10/practical-policies-for-a-distributist-economy-part-two/ |url-status=dead }}</ref><ref>{{cite web |last1=Aleman |first1=Richard |title=INDUSTRY: THE DISTRIBUTIST SOLUTION |url=https://distributistreview.com/industry-the-distributist-solution/ |website=distributistreview.com |access-date=25 December 2019}}</ref>

=== Redistribution of wealth and productive assets ===
Distributism requires either direct or indirect distribution of the [[means of production]] (productive assets)⁠—in some ideological circles including the [[Redistribution of income and wealth|redistribution of wealth]]—to a wide portion of society instead of concentrating it in the hands of a minority of wealthy elites (as seen in its criticism of certain varieties of [[capitalism]]) or the hands of the state (as seen in its criticism of certain varieties of [[communism]] and [[socialism]]).<ref name="Zwick" /><ref name=":0" /> More capitalist-oriented supporters support distributism-influenced [[Social market economy|social capitalism (also known as a social market economy)]],<ref name="ASPPlatform">{{Cite news |title=Platform |language=en-US |work=American Solidarity Party |url=https://solidarity-party.org/platform/ |access-date=2018-04-12}}</ref><ref name="ASPWeb_CD3">{{cite web |title=Christian Democracy |url=https://solidarity-party.org/christian-democracy-2/ |url-status=dead |archive-url=https://web.archive.org/web/20181116020329/https://solidarity-party.org/christian-democracy-2/ |archive-date=16 November 2018 |access-date=18 July 2018 |website=American Solidarity Party}}</ref><ref name="auto2">{{cite news |date=12 October 2016 |title=Did you know there's a third party based on Catholic teaching? |work=Catholic News Agency |url=https://www.catholicnewsagency.com/news/34726/did-you-know-theres-a-third-party-based-on-catholic-teaching |access-date=1 January 2020 |quote=We believe in the economic concept of distributism as taught by GK Chesterton and Hilaire Belloc.}}</ref> while more socialist-oriented supporters support distributism-influenced [[libertarian socialism]].<ref>McKay, Iain. ''An Anarchist FAQ: AFAQ Volume One.'' AK Press: Oakland, CA. (2008) pp 22.</ref> Examples of methods of distributism include direct productive property redistribution, taxation of excessive property ownership, and small-business subsidization.<ref>{{Cite web |date=2010-11-20 |title=A Misunderstanding About Method |url=https://www.chesterton.org/misunderstanding-about-method/ |access-date=2022-05-10 |website=Society of Gilbert Keith Chesterton |language=en-US}}</ref>

=== Guild system ===
{{See also|Gremialismo}}

Distributists advocate in favour of the return of a guild system to help regulate industries to promote moral standards of professional conduct and economic equality among members of a guild. Such moral standards of professional conduct would typically focus on business conduct, working conditions and other issues in relation to industry specific matters such as workplace training standards.<ref>{{Cite book |last=Penty |first=Arthur |title=Distributism: A Manifesto |publisher=The Real Press |date=21 October 2019 |isbn=9781912119820}}</ref>

=== Banks ===
Distributism favours cooperative and mutual banking institutions such as credit unions, building societies and mutual banks. This is considered to be the preferred alternative to [[private bank]]s.<ref>{{Cite web |last=Staff |first=T. S. I. |title=G K CHESTERTON, HILAIRE BELLOC AND DISTRIBUTISM DOWN UNDER |url=https://thesydneyinstitute.com.au/blog/g-k-chesterton-hilaire-belloc-and-distributism-down-under/ |access-date=2023-05-27 |website=The Sydney Institute |date=30 August 2017 |language=en-AU}}</ref>