Socialists (Economy)

Question 1

What do all socialists agree on the economy?

Answer 1

Capitalism when lead to its own devices can lead to inequalities.

Question 2

What does Marx + Engels believe about the economy?

Answer 2

In the final stage of the dialectic process, workers should be in control (communism), all means of production should be owned by the people and the resources equally distributed.

Question 3

What does Luxemburg believe about the economy?

Answer 3

Agrees with communist ideas of Marx and Engels but disagrees with the “final stage” abolition of capitalism. Trade unions syndicalism over a revolutionary vanguard.

Question 4

What does Webb believe about the economy?

Answer 4

Fully replace capitalism through the inevitability of gradualism. Common ownership of the means of production will take the form of mass nationalisation. Everyone under control of socialist government.

Question 5

What does Crosland believe about the economy?

Answer 5

Solely curb capitalist imperfection through socialist policy. Mixed economy under Keynesian Capitalism.

Question 6

How did Crosland disagree with Marx?

Answer 6

Argued that class distinctions are no longer as apparent implying that capitalism has been humanised after reform.

Question 7

What does Giddens believe about the economy?

Answer 7

Reconciling right and left wing politics through new center-right and center-left policies. More tolerant towards capitalism.