The basis was laid for all the contradictions capitalism tallure modernise productive system and Stale aotal alus to cope the loss of empire, and to compete just manufacturing • to explode at a Ilalivli nigner lever in tne tuture.
The British ruling class complacently rode the boom of the 50s and 60s, apparently oblivious to the disastrous results which would accompany the end of the boom and the onset of a long period of world recession (See Manoes Long Waves in the History of Capitalism). Work The complacency of bourgeois theorists during this period was well expressed the political level. Convinced that 1929-style nomic crisis was ruled out, they dreamt up the notion that 'welfare capitalism' could work indefinitely that everyone become more 'middle class' and class contradictions would gradually disappear.
the labour movement, the 'revisionist theorists TonY Crosland, Douglas Jay and so on - explained that the "Future of Socialism' lay not in the pursuit of class interests and the crea'humanising' capitalism.
Their ideological offensive resulted in the batClause 4' (nadustry) of the Labour ParLy consululon - a Dale championed by Hugh Socialist Challenge The Economist, which today demands the smashing of the Labour Party, gave its backing to Labour as did other fluential bourgeois journals.
But Labour's moderprogramme fail64-10 government proved mainly because incapable of dealing with the power of the working class, the indispensible precondition for raisins the rate of profit in British industry, providing, the basis for modernisation.
When 'In Place Strife' was dropped position, use aunt to position, any attempt deal with the organised strength of the workers' movement was over.
Broken The two-party Cute consensus was broken by the emergence Thatcherism. This was decisive move by a section of bourgeois opinion to transform the relationship of forces in society to the detriment of the working class.
Priority The programme of Thatcherism included a rejection of state intervention in industry, return to me pron forces, shake out of 'overmanning' deflationary economic policies, (le. cutting jobs), and an assault on The DOORLY datcherism was to be a war on "inflation' Sate money was the key to economic probicils.
The problem, is that Thatcherism has failed.In flation has started to go