This study works from the premise that there is little enthusiasm today for massive state ownership, and no trust in the alternative of unbounded capitalism. Third Way proposals have often turned out to be no less sterile. Veteran Labour thinker Race Mathews argues for distributism - the belief that ownership should be widely distributed rather than concentrated in the hands of the state or in wealthy minorities. Drawing on the legacies of Christian Socialism, Social Catholicism, mutualism, associative democracy and civil society, the author proposes a new "evolved distributism" vision of society. He sees common ground between distributism and mutualist bodies such as mutual assurance societies, building societies, co-operatives and credit unions. Race Mathews also warns that the conversion of mutuals into commercial companies is robbing the community of assets which are needed for social reconstruction. He points to evolved distributism on the model of the co-operatives complex at Mondragon in Spain as an authentic Third Way.

Foreword by: Rev. Peter Thomson