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- Published on: 1705
- Binding: Paperback
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0 of 0 people found the following review helpful.
By Ashtar Command
"Toward a Truly Free Market" is a book expounding Distributism, an economic theory associated with G K Chesterton and Hilarie Belloc, and more generally with Catholicism. Distributism sees itself as an alternative to both socialism and capitalism (at least capitalism as usually conceived). It emphasizes local production, small businesses and cooperatives. Chesterton's and Belloc's version of Distributism also had an anti-modernist slant, but this is mostly lacking in John Medaille's version, who believes that Distributism is a viable option for a modern nation-state. One thing *not* lacking, though, is the patriarchal perspective: businesses should be owned and operates by men, while their wives stay at home and take care of the children. The author understands the perils of environmental destruction, but has the usual Catholic blind spot concerning overpopulation...The book speaks mostly for itself, but one aspect deserves some comment. The author, as can be expected for an American, claims that Distributism stands for a "truly free market". In reality, of course, it does *not* stand for a truly free market. The author believes that the disequilibrium in capitalist markets (which makes government intervention necessary) is caused by the market not being "truly" free. But a truly free market will *never* be at equilibrium, something at least Hayek seemed to have understand. Many of Medaille's concrete proposals are dependent on heavy government intervention. Thus, he wants to break up the giant private monopolies. The author proposes that the government prints debt-free money as a way of paying back the national debt over a period of 15 to 20 years. One of his examples of how Distributism works in practice is Chiang Kai-shek's "land to the tiller" program in Taiwan, which created a prosperous mixed economy under the tutelage of an authoritarian regime! Medaille also proposes that only medical doctors who belong to a doctors' guild be allowed to practice. The guilds are private, but their rules are supervised by the government. Contradicting himself, Medaille proposes to slash the federal budget and do away with most taxes, except for taxes on land or externalities, which businesses can avoid by refraining from speculation or environmental destruction. However, since the government has the right to print its own money, it's not even clear whether it *needs* taxes!I'm not opposed to government intervention in the economy. However, I think the Distributists should come clean about it, rather than pretending to be a slightly more exotic breed of libertarians! I give the book four stars, since it's an interesting attempt to restate Distributism in a slightly less archaic fashion than Chesterbelloc. However, I suspect that a similar book written by a European or Latin American would have placed the emphasis somewhere else...
0 of 0 people found the following review helpful.
By alain chartrand
A very good book, eye opening. A fair survey of why the economy is doomed. The book is a critique of modern economics by getting back to the basics. The author offers principles, not models, for development of a just economy where man is at the center of material relations, not the other way around. No revolution or day-dreaming, but an invitation to reform in itself supported by centuries of practical experience. I would especially recommend that book as a basis for intellectual exploration and personal growth. Young students in "economics" will find in this jewel of a book much food for thought. Highly recommended.
0 of 0 people found the following review helpful.
By Greg
Fascinating book. Very interesting theory and I want to believe in it, although to my natural conservatism it still feels too much like idealism to be worth trying. However I highly recommend this book to anyone interested in the morality of economics, economics in general, and practical modern distributist solutions in particular. One of the best books on economics I have read.
Slightly damaged
