Belloc's Theories on Economics

Hilaire Belloc believed that economic stability depends on a balanced system where producers, workers, and consumers all serve the common good. He argued that over-competition and unchecked capitalism could lead to monopolies and inequality, harming society. Belloc emphasized the importance of a "guild" system, where groups of artisans and workers collaborate under shared standards, fostering fair wages and quality. He also warned against excessive state intervention, advocating for a mixed economy where private enterprise operates within a moral framework that prioritizes social cohesion and justice.