Médaille On Buffett

The Distributist economic viewpoint as articulated by John Médaille and others is one which I am just learning about but have much sympathy for. Basically, it is an economic "third way" between communism and capitalism, wisely understanding the truth of the wag's statement "Under capitalism, man exploits man. Under communism, it's the other way around."

In a nutshell, distributism envisions an economic order modeled on the guild-dominated economies of medieval Europe. Advocates take Catholic social teaching seriously; indeed, they frequently insist that CST virtually obligates Catholics to support a distributist program. There is much of value in the distributist vision, including criticism of consumerist culture and an emphasis on wide ownership of property and communal cooperation.
___
QUOTE As a matter of full disclosure, I am a stockholder in Berkshire Hathaway. But this old distributist will listen to the old capitalist. Pearl Harbor was a rather severe wake-up call. This melt-down is another. How will we respond? Trouble in life is inevitable; the real test, for a person or a nation, is how we deal with it. UNQUOTE
_____