Socialism views on ecomony

Question 1

M & E

Answer 1

Capitalism is corrupt inefficient and self destructive want central gov to control economy (harvest and distribution of resources)

Question 2

Luxemburg

Answer 2

Capitalism entrenched to removed widespread support required amongst workers

Question 3

Webb

Answer 3

Socialism gradually replaced with common ownership over means of production

Question 4

Crosland

Answer 4

Mixed economy e.g keynesian capitalism

Question 5

Giddens

Answer 5

Neoliberal economy with privatisation, can fund larger public spend this way.

Question 6

New Labour

Answer 6

Ditches clause 4 in 1997, able to increase public spend from 39% to 47%