Capitalist Order

Describe the ways in which socialists and others challenged the capitalist order.

© SolutionLibrary Inc. 9836dcf9d7

Solution Preview

...reat. We have fought, sometimes in battles on the epic scale of the 1984-1985 miners' strike, but mostly we have lost. In the 1990s the tide began to turn, at first slowly, almost imperceptibly. Attitudes began to shift. The mania for the market subsided. The poll tax was defeated. Thatcher and Reagan passed into unbalanced retirement. The transformation in popular attitudes eventually registered in a massive electoral defeat for the Tories, part of a European-wide pattern?(

The Socialists and others activists primarily challenged the idea that capitalism was the best form of government and best for society in general. Socialism held three basic principles that fed into these changes: strengthening the power of labor relative to capital, deecommodifying labor power, and strengthening the social power over economic activity (expanded at the end of this response). These principles can be used as criteria for movement from capitalism towards socialism, with different proposals for institutional reforms within capitalism that might contribute to one or another of these. For example, reforms of pension funds which gave unions potential to exert control over the exercise of corporate power, as argued by William Greider, for example, could be viewed as contributing in some way to the third criterion ...