Hillel Ticktin incredibly states that "a return to
Keynesianism is on the cards" ('Financial turmoil
heralds return to Keynesianism', April 3).

Surely that policy - spending money in the public
sector to keep the economy growing - has been persued
by Alistair Darling and Gordon Brown for several
years! Brown started off as prudent, and reduced
government debt a little, but borrowing has escalated
since, even during a boom when there would normally be
a surplus. Government debt in the last financial year
was around £40 billion, excluding PFI/PPP deals and
the money lent to Northern Rock. Money spent on the
National Health Service has continually increased
faster than the rate of inflation, for example.

Ticktin doesn't want to talk about a crisis of
capitalism because the ruling class is not "actually
threatened by the working class". New Labour is trying
to swindle public sector workers with three-year pay
deals, knowing that real inflation (particularly food
and fuel prices) is rising and set to soar. Nurses are
now being offered 8% over three years with 2.75%
immediately. Union leaders are unsurprisingly
capitulating but the left is aiding the swindle by
just complaining about the low level of pay offers
compared with real inflation now, rather than warning
of it soaring in the future.

I an not in favour of solely the working class taking
power - I am in favour of a form of socialism based on
proportional representation by single transferable
vote. Nevertheless, workers will have an important
role to play in overthrowing capitalism and strike
action for decent pay rises, even perhaps to
renegotiate deals that have already been agreed, is
likely to be a key part of the struggle.


--
Steve Wallis (Glasgow, Scotland)
For important/urgent communications, please email: warcrysteve@...
Blogs: http://groups.yahoo.com/group/steve-wallis-socialist-blog,
http://blog.myspace.com/galaxiasteve

My socialist website: http://www.socialiststeve.me.uk
My socialist musical poetry: http://www.socialiststeve.me.uk/poetry.htm (and at
my MySpace and Multiply pages)
My pages at MySpace: http://www.myspace.com/galaxiasteve, Facebook:
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Founder, Ethical Capitalism Network: http://www.ethicalcapitalism.org
Founder, Foundation for PR-based Socialism: http://www.PRsocialism.org
Founder, Revolutionary Platform Network: http://www.revolutionaryplatform.net
My socialist band, Galaxia/Red Day/Red Friday: http://www.galaxiamusic.org,
http://www.myspace.com/galaxiamusic
Author, "Revolution Destroyed? Have I ensured that a world socialist
revolution will never happen?": http://www.revolutiondestroyed.net

For discussion of the credit crunch, go to
http://www.revolutionaryplatform.net/forum/index.php?board=156