Financial Times. The newspaper headlines 'Hattersley moves shift Labour on nationalisation' 'Hattersley urges Labour rethink on nationalisation' told the story.
Roy Hattersley announced: '1 want to argue for an increase in social ownership. propose an extension tionalisation.' And that: 'A society in which a higher percentage of productive capacity is owned by the state is unlikely to be highly efficient or truly free.
A week before the speech Hattersley launched the new economic policy document future that works which spelt out the 'no major nationalisations' line. JOHN ROSS looks at the issues involved in Hattersley's arguments.
The particular ideas and policies being raised by Roy Hattersley and the Labour right to justify their new cconomic poncies snow Just now important somewhat obscure economic and theoretical polemics can be in influencing the forms of Labour Party policy.
The inspiration for the type arguments Hattersley advances today can be directly traced to one crucially important book on economic theory Alec Nove's The Economics of Feasible Socialism. Nove's book in turn basically elaborates arguments which LOOK place among economists during the 1920s. various other popularisations of the sallic ideas, for example Hodgson's The Economy, add nothing substantially new to the debate. But I do not of naNEC A of Russian The Geoff Democratic A future that works tionalisation social need.