Towards reformed capitalism and people-serving politics. A reform Manifesto.
Following the banking crash that started in 2007 and is still reverberating round the world, there is early evidence that many people in many countries want fundamental changes in economic and political policy. In short, they want the interests of people to be regarded as more important than the domination of the financial Markets.
European countries seem to be edging towards social market ideas as a reaction to the excesses of market fundamentalism. In essence, people seem to be demanding of politicians that finance and industry should serve the interests of people, rather than enslaving them in debt and consumerism.
The Austerity programmes demanded by “The Markets”, in reality currency and bond traders working for banks, are a prime example of the mass of people serving big finance.
This throws up a ludicrous paradox - the banks that caused the crisis by irresponsible lending are now demanding that the mass of people should suffer so that they can profit from more lending and continue to trade as normal. Meanwhile, the austerity programmes demanded by the markets further impoverish people and economies enter a vicious descending spiral of decline.
What follows is an outline of a political Manifesto that forms a basis for a Social Democratic political revival.
It was created with the UK Labour party in mind, but I believe it would be applicable in any society that places general wellbeing ahead of the interests of elites.