I'm not defending Putin as a saint or anything like this and I'm not advocating communism/socialism.... but the catholic economic ideal of distributism has much more in common with Communism (the economic ideal) than Capitalism. The way the economy worked in the Middle Ages (at the height of catholic sanctity and order) was much more "you have a duty to help your fellow man" (i.e. socialism) than "every man for himself fights to win the most" (i.e. capitalism).
Capitalism's error is it takes individuality to the extreme, and there is no social duty to help anyone. Communism/socialism's error takes the duty of charity to the extreme and destroy's individuality. The catholic ideal is individuality + obligation to help society, in a balance.
I'd say American capitalism (apart from the political corruption...just looking at the common american joe) had a balance at one time. We Americans are very materialistic but we're also very charitable. We're not saints but the the proof of this is, the more and more that the middle class gets economically squeezed, the more and more charity organizations suffer. Why is that? Because most of the rich aren't very charitable but most "avg joes" are.
To sum up, Putin has a slight point, if he's referring to the "modern" version of russian communism (i.e. less govt and an actual middle class). This is kinda what we have here in America now (we are more communistic than capitalistic). If the middle class has the freedom to earn a proper wage (even living in a communistic country), most will be thankful and "give back". This is kinda, sorta similar to Catholic distributism. The balance between individuality and charity.