In 'Mediaeval Socialism', author Bede Jarrett challenges the common assumption that socialism is a modern economic theory. Through an exploration of social and political theories from the Middle Ages, Jarrett argues that the concept of socialism has roots that extend far beyond contemporary conditions. He acknowledges that the meaning of "private ownership" and "social possession" has varied throughout history, but asserts that the central principle of state ownership of land and capital can be applied across time. By examining earlier forms of social and political thought, 'Mediaeval Socialism' sheds light on the evolution of economic theory and its potential for future development.