Economic theory promoting local control / From Wikipedia, the free encyclopedia

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Distributism is an economic theory asserting that the world's productive assets should be widely owned rather than concentrated.[1] Developed in the late 19th and early 20th centuries, distributism was based upon Catholic social teaching principles, especially Pope Leo XIII's teachings in his encyclical Rerum novarum (1891) and Pope Pius XI in Quadragesimo anno (1931).[2][3][4] It has influenced Anglo Christian Democratic movements,[5][6] and has been recognized as one of many influences on the social market economy.[7][8]

Distributism views laissez-faire capitalism and state socialism as equally flawed and exploitative. Instead, it favours small independent craftsmen and producers; or, if that is not possible, economic mechanisms such as cooperatives and member-owned mutual organisations as well as small to medium enterprises and large-scale competition law reform such as antitrust regulations. Christian democratic political parties such as the American Solidarity Party have advocated distributism alongside social market economy in their economic policies and party platform.[5]

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