socialists and the economy Flashcards
(6 cards)
socialists AGREE capitalism is a flawed econ system that produces inequality & class divisions
-opp to free market capitalism, viewing it as a fundamentally flawed system forms the bedrock of socialist ideology.
-believe state should intervene to promote equality
-capitalism -structurally exploitative, profit motive & private ownership of MoP, lead to stark social class divisions & deep inequality.
-tackle this -promote w/c interests & use state action to pursue equality.
-rather than supporting free market capitalism
-socialist support for TUs-in line w collectivist principles.
-TUs -essential for empowering workers collectively, allowing them to negotiate fair wages & safe working conditions.
-socialists believe state action can transform the econ & society to pursue equality. -seen-rev socialists-capitalism can be abolished & replaced by classless society.
-Marx & Engels argued in the communist society the state has withered away & MoP -collectively owned.
-resources & power -distributed equitably among all members according to need & ppl contribute to society based on abilities.
Marx - ‘from each according to his ability, to each according to his needs’
DISAGREE extent to which equality should be promoted in econ & whether capitalism should be abolished
all agree capitalism left alone -inequality, but disagree-extent of equality.
-rev S -absolute equality of outcome
-eradication of class & inequality
-Marx-only achievable by overthrowing capitalist state in a rev led by the w/c -the most exploited by the existing state, to form a ‘dictatorship of the proletariat’.
-existing capitalist state -serves interests of bourgeoisie rather than proletariat.
-to achieve absolute equality-collective ownership of MoP, dismantling class structure.
-end goal is a classless society where resources & power -distributed equitably among all members according to need & ppl contribute to society based on abilities.
-distinctions that drive social inequality would cease to exist revealing absolute equality.
social dems -differ -extent of equality
-didn’t support high tax rates for high earners to redistribute & pursue equality of outcome
-comfortable w ppl becoming rich, only supporting equal of opp.
-primarily using education to equip ppl to succeed in a market econ.
P3-disagree -extent of workers control in the econ should be promoted
-rev socialists-following rev-workers complete control -proletariat-political power & control FoP, =abolishing private property & capitalism.
-involves nationalisation- state & its key ind. are ruled in line w interests of the proletariat.
-collectivist approach to state management - resources distributed according to needs of the pop & absolute equality.
-Webb - admired USSR -where state had control over econ in interests of bourgeoisie. -argued state control executed by effective managers was the most efficient way to pursue equality
-rev socialists -state would eventually wither away to reveal a truly equal communist society.
how do social dems differ -workers control
-to an extent
-support nationalisation of key industries e.g health -vital to public welfare so should be run in the interests of the w/c rather than driven by profit.
-mixed econ-e.g Britain in 1960’s -coal and other ind. nationalised but rest of econ remained capitalist.
-Crosland-balanced approach e.g
state intervention & reforms would prevent inequalities of capitalism -Keynesianism prevent mass unemployment & high tax on rich+redistribution=equal of outcome
without overthrowing the whole system.
how do third way differ on workers control
reject workers control
-promote individual responsibility & entrepreneurship in free market capitalism.
-don’t support nationalisation, favour privatisation as a means to increase efficiency & E.G.
-competitive markets-effectively meet cons needs & drive innovation.
-Giddens said private ind. were more responsive to the market & cons needs.
-Blair govt accepted the privatisation of key industries by Thatcher govt & removed clause 4 from lab const arguing it was necessary to modernise the party to adapt to the changing econ landscape & need for a more pragmatic, market oriented approach.
