Originally Posted by
Kano
The turnaround in the 30's came off the back of the private sector loaning money to Roosevelt to get things moving again - if there are no workers earning money and thus no one going to buy the products from these companies, the economic system was only going one way. So the Steagall act worked well as an illusionary measure but it was a case of companies having to bide their time while the economy picked up again and as we have seen over the decades, they have chipped away in court case after court case until he it has become meaningless. They initially had to wait for the recovery to occur during (most) of that decade, then the Second World War, dealing with those post-war financial implications in the economy, before the boom of the late 50/60's finally gave them the green light. That was when the challenges to the act really began to have an effect, leading to the de-industrialisation of the 70's, heavy deregulation of banks in the late 70/80's and so forth.
The idea of the left, through Marxism mostly, spread pretty quickly really but its failed misinterpretation through Lenin/Stalin and Mao absolutely tarnished it in the West. Easily providing all the ammunition capitalism needed to point and state what an awful, totalitarian ideology it was at heart. Job done. But capitalism and the real left just won't gel and that's the problem it faces. Although, that may well be resolved without them having to do much at all. Maybe that will prove to be the point when rather just focusing on what it doesn't want society to look like, people will step forward with a clear vision of what it should become.
Left or right, centre or not, many of the ideals cross over. Labour's 'angle' was always about standing for the working class, defending the common man against the tyranny of the educated classes etc etc. Worked great on a local level but not to the masses in this system, without sounding too manic. The closer to central Government it got, the more diluted it became. No surprise at all that Attlee formed their first majority post-WWII. Any ideas of real 'radicalism' have no room to work within this economic model and so it could never truly be a leftist party. It was merely natural progression that over the decades the two main parties have merged into one indistinguishable form. Kinnock was the last throwback to the 'old school' union type but he was laughably out of touch as the Tories steam rolled ahead with modernisation and he never stood a chance with the electorate. He stunk of the bleak 70's that everyone wanted dead and buried under Wilson/Callaghan.
This is the ironic thing about the two sides. Bottom line, people who vote for either want the same thing. Jobs and stability. But keeping them apart is a business for the media and for politicians who have chosen a career that is built on taking turns. Too many vested interests to allow people to stop shouting at each other for a minute and realise their similarities. That sort of mass union is absolutely terrifying for those with so much to lose.
Whether it's the movement and belief of people that pushed Corbyn to his job, Sanders appearance as an American (moderate) socialist in the mainstream, Greece, Spain, or Austria, Netherlands, France or Trump - these are signs of people movement away from the norm. Throw in Occupy, Black Lives (whether or not they are successful or if people believe they are valid causes) and of course the Tea Party, then there is a shift happening in two directions. A growing swell of anger from almost every corner of society. At the moment, the main difference is, one side has a vision (based on nostalgia, or a form of mourning for the past some would call it) while the other is behind in that respect. I won't claim to know what it is heading toward exactly but we are undoubtedly in the stages of something else forming in the spectrum.