Belloc was just a
proto-tin foil wearing nut
who viewed the world in
conspiracy terms.
Today, probably, he'd be
working for LaRouche:
"Now almost forgotten, Distributism was a composite of several social and moral theories first articulated by Gilbert Keith Chesterton (1874-1936) and Hilaire Belloc (1870-1953) in the pages of volume 2 of The New Age. The initial concepts arose from the four-way (and more) argument among H.G.Wells, George Bernard Shaw, Belloc and Chesterton over modernity ... That discussion, now known as "the Chesterbelloc" contoversy, helped Belloc and Chesterton develop a rationale for equitable distribution of property and restoration of worker control in commerce, agriculture, and industry. This cluster of ideas, soon called "Distributism," was based on the two men’s look back, to European history, as well as their concerns about the present and the future of mass industrial society. ... As Distributism looked to the past for a model of a simpler, kinder, gentler world, it began to focus on what it saw as the abuses of international finance in causing wars, famine, and disruption in social relations. Steeped in European cultural and religious attitudes as they were, it was not a big step for some Distributists to believe in a conspiracy of international Jewish finance responsible for the social chaos caused by both capitalism and socialism. Chesterton, Belloc, Eliot and Ezra Pound were among those who succumbed to this viewpoint at various times."
[Distributism, by Carol DeBoer-Langworthy]