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C21st left : Comments
By Barry York, published 13/10/2014What passes for left-wing today strikes me as antithetical to the rebellious optimistic outlook we had back then.
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I think it is inevitable that after a socialist revolution, a large minority will be opposed to it. Except perhaps during some temporary transition period, they will not be permitted to set up capitalist enterprises. They will lose their wealth and would not be given access to finance. Even attempts by individuals to pool their savings and issue shares or loans would need to be discouraged and we would certainly not provide the legal framework that private businesses require.
This may be seen as restricting people's options but if the social revolution is ultimately successful there will be no one around who wants to be a capitalist or an employee of a capitalist. The new arrangements will be freer and more productive.
It is a bit like the way that nobody wants to go back to feudalism. I think people prefer to be capitalists rather than barons and anyway they would have trouble finding willing serfs, and kidnapping people for the purpose would be illegal.