Distributism, also known as distributionism and distributivism, is
G. K. Chesterton's,
Hillaire Belloc[?]'s, and other modern Catholic thinkers' political philosophy. According to distributism, the means of production should be spread as widely as possible among the populace, rather than being centralized in the hands of the state (
socialism) or a minority of individuals (
capitalism). An example would be an economy of entire sustenance farmers. These ideas are also endorsed in 19th and 20th century Papal teachings. A good summary of distributism is Chesterton's quip: "The problem with capitalism is that there are not enough capitalists."
For more information and links, see http://mdemarco.web.wesleyan.edu/gkc/distrib/