Socialism pt 5

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  • Socialism - Third Way socialism
    • Key ideas
      • - A recent form of revisionism known as neo-revisionism and associated with Blair and Brown and German SPD politicians like Gerhard Schoder in the 1990s
      • - The Soviet Union collapsed, market economics was embraced across Russia and eastern Europe. Globalisation of capital made keynesian economics redundant while failure of nationalised industries and the extensive support for privatisation in the 1980smade support for the mixed economy outdated
      • - Giddens wanted to 'triangulate' social democracy's wish for more equality with a capitalist society that was more neo-liberal
      • - Giddens urged modern leftists to 'go with the flow' by encouraging further privatisation and deregulation. It was the modern way to boots economic growth and boost tax revenues and spendings
      • - Revised attitude for equality of outcome, believed in equality of opportunity instead. In a neo-liberal economy, unequal outcomes went hand in hand with increasing rates of economic growth
      • - Blair renounced clause IV of common ownership and herald the era of New Labour. Peter Mandelson "we are intensely relaxed about people getting filthy rich... just so long as they pay their taxes"
      • - Tax burdens rose so public spending rose leading to GDP rising from 39% 1997 to 47% in 2010
      • - New Labour's regulation of banks and financial services on one hand plus steep increases in public spending on the other was an example of Third Way triangulation
      • - Third Way also placed an emphasis on cultural and political equality reflecting how society by the 1990s was cosmopolitan and diverse. Globalisation also made governments less influential in the economic sphere so governments should address 'less economic' examples of inequality in society e.g racial, gender and sexual equality such as Civil Partnerships for gay couples and HRA
    • Recognition of the free market over state planning
      • - Giddens rejected the cybernetic model of socialism where the state acts as an artificial brain that maniplates the organic society
      • - Free market capitalism enriches and empowers society. Tax reached 83% for high earners in 1974
      • -Giddens argued that neo-liberal economy generates greater revenues that state managed ones which can fund public spending to target societies poorest. Economy grew by 2.4%  per year which was higher consecutive economic growth than seen in the previous 50 years
    • Embracing the idea of a competitive state
      • - Giddens argued that the state needs "promote investment in education and infrastructure" to facilitate competition
      • - 1997 to 2010 more schools, hospitals and public buildings were built as well as the Crossrail and the bid for the Olympic Games 2012
    • Embracing community, moral responsibility and social inclusion
      • - Giddens argued "no rights without responsibilities" and if social democracy offered cradle to the grave welfare Third Way promoted "a hand up not a handout". Unemployment "should carry the obligation to actively look for work
      • - Advocated positive welfare and commitment to social justice


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