Friday, August 14, 2015

SPGB News Release - Corbyn

SOCIALISTS WARN OF DEAD-END FOR CORBYN BAND-WAGGON

Members of The Socialist Party of Great Britain have warned the public not to be taken in by claims that Labour Party leadership candidate Jeremy Corbyn offers any alternative to austerity in Britain.

Campaigning in North London this week, Bill Martin, who stood for the Socialist Party against Corbyn in his Islington constituency earlier this year, said Corbyn was right to lay the blame for the slump on the economic system, but claimed he was “just a traditional Labour MP, who puts forward the case for state intervention in a capitalist economy: Harold Wilson 2.1.”

“The cause of austerity is not the Tory government, or the absence of a Labour one. It’s the profit system which causes boom and bust,” said Bill Martin. “Governments can only spend at the expense of profits.  Corbyn should know better.  It was his Labour Party in the 1970s that tried to spend it’s a way out of a slump and it didn’t work then.”

Joining him was Adam Buick, an editor of Socialist Standard magazine who commented: “There is a lesson in the failure of the left-wing Syriza government to end austerity in Greece.  While capitalism is in a slump it can’t be ended. It was an impossible demand.”

He said Corbyn and his supporters should “stop wasting time trying to reform the market system and instead join our campaign to replace the capitalist system of class ownership and production for profit by a socialist system of common ownership, democratic control and production directly to meet people’s needs. Only then will austerity be ended forever.”

2 comments:

booseyhey said...

I think the supply of money also is a factor in how the economy fairs. We allow banks to create money and to loan money where the banks think best. This system could be changed. With control of money our boom-bust cyclic economy could be ended.

ajohnstone said...

The amount of money and credit issued is simply part of the circulation of capital...the lubricant...We have to change the engine of production not just the oil.

We would disagree that the economic malaise is simply a banking problem.
See more at this blog post
http://socialismoryourmoneyback.blogspot.com/2010/01/banks-and-credit.html