Capitalist crisis and New Labour

That capitalism - left to its own devices at least - periodically causes economic crises has yet again been demonstrated. Also proved is that government will intervene to prevent in so far as it can economic collapse and the impoverishment of whole layers of society.

Yet the fact remains that bailing out the banks and attempts to re-mortgage Middle England represents only a shift in tactics and not of strategy for New Labour. In the absence of working class and progressive pressure (now totally lacking) there will be no shift in the balance of wealth and power in favour of the worst off in society, nor will anything reign in the growing authoritarianism in Britain.