I was having a talk to a comrade in our party the other day and he was warning us against a tactic that the capitalists could use to help them out of this crisis. One that has been tried before but would not solve the underlying contradictions of capitalism.
As we know the economy in Britain has been based on a financial reliance for some time now and the banks are currently being spanked by capitalist politicians left right and centre. They are falling over themselves to criticise the bankers and their bonuses and we’re hearing terms being introduced a fairer ethical capitalism. If there is such a thing.
But today we have seen more of this idea with Ed Miliband in his speech on “made in Britain”.
Labour leader Ed Multiband is to call for more "patriotism" in manufacturing policy to boost British industry.
In a speech to the manufacturers' organization EEF, he is expected to say protectionism should be avoided but "pride and patriotism" are needed in order for British business to succeed.
He said government should support a 'Made in Britain' mark for products.
Business leaders will suggest measures they want to help "rebalance" the economy over the next few years
This has been floated about several times with the idea of a British investment bank designed to invest in British businesses and manufacturing. This may seem a utopian idea but we could see the state playing a bigger part again as a way of saving the capitalist system from collapse.
Of course the capitalists won’t like this idea straight off but if it means saving their system from ruin and keeping up their profits they may just be tempted. As this financial crisis deepens more radical ideas like this may get more airing. The talk of a fairer capitalism is an attempt to put a nicer face on the exploitation of millions of workers and appear like the system can work for us all. In reality we know differently and we must be prepared to go back to look at “state capitalism” and its ways of working as it could play more of a role in the future.
I am not saying this will happen just saying this could be a possibility for the ruling class to turn to protect their system.
As revolutionary socialists we must learn about state capitalism and take up its meanings. Warning the class that this will not ultimately bring us prosperity and the underlying contradictions of capitalist production will still remain. The contradictions of over production and workers not being able to afford the products they make. This will not also end the periodical boom and busts that capitalism has bred in to it either therefore will not bring fairness and equality to the many still only benefiting the few.
Only a full transformation of society not just state nationalised industry along state capitalist lines but true nationalisation of the banks, top companies and run the economy based on people’s needs not profits of a select few. For this the working class needs to gain power and remove the class system basing production on need first. This can happen under a socialist transformation of society which we must look to convince people of.