With the Party conference season behind us the big idea back on the agenda is, apparently, socialism versus free-markets. Stirring speeches about the return to socialism rang out from Labour in Brighton, to be met by counter-blasts of free market rhetoric from the Tories in Manchester. It was all quite nostalgia inducing for some of us – forward to the 1980s! And, of course, thoroughly specious from both camps.
In reality the debate quickly descended from the lofty heights of imaginary alternative social systems – neither socialism nor free markets have ever existed and are ever likely to – to a rather more prosaic debate about nationalization versus privatization as almost as devoid of serious thinking as it was the first time around in the 1980s. Continue reading