Catholic church doctrine is to reject socialism and lassiez faire capitalism. The position has been called distributism, most famously by G.K. Chesterton (The Man Who Was Thursday, Father Brown stories) and Hilaire Belloc (The Servile State), and more recently by E.F. Schumacher (Small is Beautiful) and Kirkpatrick Sale (Human Scale).
Many conservatives would, I believe, see distributism as an authentic capitalist economic system.
I do not consider myself distributist, but I have been influenced by distributist thought.
Which does not excuse, nor explain, how one could be so misguided as to talk about capitalism as if laissez faire exists anywhere in the world which is exactly what happened in context.
And FTR, distributism is a phony theoretical but euphimisitc way of saying command and control ..and I do reject it out of hand.
That is a close cousin of socialism. It requires an all powerful body to limit and distribute capital. Great on paper till you start thinking how it would work
I agree with distributism in theory and for conservatives who truly understand it, I agree they would choose a more contemporary form of it. The larger the society, the more it’s principals are needed. Many conservatives think there is nothing wrong with lassiez faire capitalism. But today’s capitalism is driven by greed and power and takes on many totalitarian aspects. Is the capitalism that we have today better thans the socialism of today. Of course...it always has been. But greed has driven it beyond the pale of Christian ethics.