Pockets and possessions generally seem to me to have not only a more normal but a more dignified defense than the rather dirty individualism that talks about private enterprise. In the hope that it may possibly help others to understand it, I have decided to reproduce these studies as they stand, hasty and sometimes merely topical as they were. It is indeed very hard to reproduce them in this form, because they were editorial notes to a controversy largely conducted by others; but the general idea is at least present. In any case, "private enterprise" is no very noble way of stating the truth of one of the Ten Commandments. But there was at least a time when it was more or less true. The Manchester Radicals preached a rather crude and cruel sort of competition; but at least they practiced what they preached. The newspapers now praising private enterprise are preaching the very opposite of anything that anybody dreams of practicing. The practical tendency of all trade and business to-day is towards big commercial combinations, often more imperial, more impersonal, more international than many a communist commonwealth-- things that are at least collective if not collectivist. It is all very well to repeat distractedly, "What are we coming to, with all this Bolshevism?" It is equally relevant to add, "What are we coming to, even without Bolshevism?" The obvious answer is--Monopoly. It is certainly not private enterprise. The American Trust is not private enterprise. It would be truer to call the Spanish Inquisition private judgment. Monopoly is neither private nor enterprising. It exists to prevent private enterprise. And that system of trust or monopoly, that complete destruction of property, would still be the present goal of all our progress, if there were not a Bolshevist in the world."
The Outline of Sanity, GK Chesterton