The Errors of Capitalism and Socialism
FROM A review of Hilaire Belloc’s Economics for Helen by Dr. Peter Chojnowski at The Distributist Review:
There are several aspects of this text, which open up new vistas for those seeking an alternative to the materialistic determinism of both the Marxists and the Economic Liberals. All of these insights, on the part of Belloc, into the very fiber of the economic life of man, point to the fact that economics is grounded in two realities, both of which the Capitalists and the Socialists have overlooked: the divinely ordained goal-orientation of human nature and the freedom of choice originating in the spiritual principle of man, which is his soul.
What these two facts indicate is that economics is grounded in the psychological, spiritual, and intellectual life of man to such an extent that the orientations and demands of this life create economic facts and laws that cannot be circumvented. One mentioned by Belloc is the idea of “subsistence.” According to Belloc, “subsistence” is “the worth while of labor.” By this, he means that if a certain standard of living were not provided to the worker, on account of his work, labor itself would no longer be thought to be worthwhile and, hence, would not be engaged in. Belloc identifies this as an economic law, rather than a moral law. Here we see the advancing of a concrete example of an “economic law” which all nations and economic concerns must adhere to if they are to maintain a healthy economic life. Moreover, Belloc implicitly refutes his accusers who charge him with collapsing economic law into moral law. If a nation does not provide its people, in their generality and in their individuality, with work that can sustain a man and his family at levels acceptable within the context of the national culture, men will not work and the nation will not prosper. Of course, it is the obligation of the State to ensure that companies and enterprises uninterested in providing subsistence wages do not simply locate their factories in foreign countries and export their products to the “job-free zones” of the “developed” countries. (more…)



