Comments by "robs2020" (@sbor2020) on ""I'm Pointing Out Why It ISN'T Valid!" | Julia Hartley-Brewer Clashes With Socialist Party Member" video.
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@grahamflaherty9278 Yes. I was 13 when Thatcher came to power. From your question, I assume you are of the view that the Labour government of 1974-1979 as "socialist," but in reality, it marked a significant shift towards neo-liberalism, paving the way for Thatcherism. Under Prime Minister James Callaghan, the government abandoned Keynesian economics, which emphasised government spending to maintain full employment. Instead, they focused on controlling inflation, reducing public spending, and implementing wage controls - policies more aligned with neo-liberal thinking. For instance, the 1976 IMF loan led to austerity measures that prioritised monetary stability over social welfare. These actions began a transformation in British economic policy that continued under Margaret Thatcher.
If the Labour government was genuinely "socialist," why did its policies of austerity, wage controls, and reduced public spending align so closely with the neo-liberal agenda that Thatcherism later intensified?
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@shinkansenshinkansend8316 It seems like we’re approaching this from very different angles, but I think it’s important to clarify a few things. The idea that “capitalism has produced the best quality of life” is definitely a popular one, but it’s worth asking: what do we mean by capitalism? Are we talking about a truly free market, or are we overlooking the role of state intervention, corporate monopolies, and historical factors like colonialism?
On the flip side, the “socialist” economies often pointed to as failures, like the Soviet Union, were more like state-controlled capitalism—where the state played the role of the capitalist rather than eliminating the capitalist structure altogether. The kind of socialism I’m talking about—a society with democratic control of resources and communal ownership—has never really been tried.
I get that it can be frustrating to feel like someone’s never satisfied, but for me, this isn’t about rejecting ideas for the sake of it. It’s about digging deeper into what these terms really mean and considering what kind of system truly benefits the majority of people. I’m open to discussion, and I think we might find more common ground if we look beyond the surface of these labels.
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