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A fantastic book, everything Id hoped for and more. One expects distributists to provide a breath of fresh air and an alluring new vision of what economics might look like, but lets face it, one does not expect them to do rigorous, respectable economics in the process. This book does--or nearly so. This book is very well-written, cogently argued, and easy to read. Although Ive loved a lot of Medailles work, none of it prepared me for just how solid and compelling this book was. It reads almost like a basic introduction to economics, covering the fundamentals like money, capital, labour, supply and demand, etc., but in the process, it questions, in a very commonsensical but rigorous way, the false assumptions of economic theory that govern the way those subjects are treated in most introductory economics textbooks. Following Karl Polanyis The Great Transformation, it makes the revolutionary case that land, labour, and money are fictitious commodities and thus cannot play the role they generally play in neoclassical capitalist theory. Distributism often feels like a great ideal, but one wonders if it has a realistic grasp of how economics and society actually work. Medaille shows that it can. In fact, it can have a much more realistic grasp than most orthodox capitalist theory. My only caveat, and why I said or nearly so above, is that Medaille does very little footnoting in here--no doubt, that is because he wants to write to a broad audience, and does not want to turn them off with all the academic window-dressing. But it means that when I read a claim that seems to make really good sense, but which flies in the face of everything Ive been told before, I cant follow the footnotes and verify it for myself. So its hard to know for sure just how rigorous and respectable the economic theory in this book is. Ill be interested to see how traction this book gains.(The main reason I only give it four stars, though, rather than five, is that I dont want to seem like one of those people who gets carried away with enthusiasm and just gives five stars to everything I really agree with, but only one or two to everything I disagree with.)
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