Economy

Question 1

Marx and Engels

Answer 1

Capitalism is corrupt, inefficient and periodically self-destructive; it must be replaced with a system of common ownership.

Question 2

Luxemburg

Answer 2

Capitalism is resilient and entrenched; removing it requires widespread support and solidarity amongst workers.

Question 3

Lenin and Stalin

Answer 3

Command economies - Harvesting and distribution of resources were controlled by the central government.

Question 4

Webb

Answer 4

Common ownership over means of production can gradually come about.

Question 5

Crosland

Answer 5

Mixed economy - This is achieved through limited public ownership and Keynesian capitalism.

Question 6

Giddens

Answer 6

Neo-liberal economy based upon privatisation and deregulation ensures tax yields are higher; this enables greater public spending.

Question 7

New Labour (TW)

Answer 7

Clause 4 ditched in 1997 (goes against Webb), public spending increased following this from 39% to 47% of GDP.