That probably would be the case, and I would love to live in such a society, where things are done for the good of all. I recently became aware of a brand of politics known as democratic socialism, which proposes economic democracy. It seems like the opposite of capitalism.

Unfortunately we're locked into this expectation of endless economic growth. It actually becomes more important as we get older and into retirement, because our entire income depends on achieving a certain percentage growth on our investments.

I'm not sure if this will ever change.

Hi Andrew,

I think you are spot on here. I was about to reply to your original post with something similar, then I saw this reply.

I think a lot of the problems with our current politics boils down to a sort economic/political inertia. The system doesn’t allow radical change and therefore all of the major parties lack ambition in their vision. The discourse is all about competency and who can be trusted to govern within the current set of rules.

I used to think this was confined to only preventing left wing change. I always imagined a right wing establishment with an agenda to halt any move towards socialism. The Liz Truss period of government changed my mind though.

Truss came from the Thatcher tradition of right wing politics. Low taxes, low regulation, (supposedly) high growth. She tried to implement these changes when she was appointed prime minister. The results were disastrous. The bond markets went haywire and economic confidence in the UK collapsed. The establishment and markets moved against her and she was soon removed as prime minister. It seems the radicalism on the right wasn’t allowed either.

My guess is that something similar would have happened to Jeremy Corbyn if he had come to power. With all the best intentions he would have tried to change the world. He would have been a truly radical prime minister and attempted to overturn the capitalist misery we all live under. But he too would have been removed. The pound would have crashed. Pension pots would have gone bust. A quick return to the centre would be the only way to restore the UK’s credibility in the eyes of the world.

Unfortunately I think we are stuck with what we got. I hope more than anything that the current government is voted out. I want a Labour government. It will be a big improvement on what we got. But it won’t be revolutionary. Capitalism will remain.

The only way we get rid of capitalism is if it destroys itself. We are possible already seeing this. Corporations are becoming so greedy that they are forcing people into poverty. How long will people put up with oil companies hoarding cash while they freeze in their homes? Will people stomach huge super maker profits if their own stomachs are empty?

If an economic system can’t look after its people, then it’s people won’t look after it. The poor have and always will be poor under capitalism, but if the middle classes and rich are suddenly put out of pocket, then change may happen. What that change is though I have no idea.

Nicely put Jon. I think it's amazing what people will generally put up with. At what point does public unrest start? What would it take? Like you say, when the middle classes and rich are starting to feel it, we may see something happening.

Very difficult to change the system we have, and as Laura has pointed out, any attempt to make radical changes will cause disastrous consequences. I'm sure Liz Truss had the best intentions, but it badly backfired.

Who would you say was the best Labour leader of the past years?

Ooosh, well in opposition it’s very difficult to say as they haven’t had a crack of the whip so to speak. I don’t think we can really see a leader or what they are about until they’ve taken power. So much is based upon trust and promises before they do so. Prior to 2010 I was young and not very politically engaged. I joined during Miliband’s time, subsequently voted for Corbyn (leadership), and then also for Starmer in recent years.

Ultimately though, for me it’s always about the party and its values. The leader can influence which way it sways of course, but leaders will come and go. The party and what it does for society (or against at present) is what gets my vote.