The second form of Socialism (sometimes called "Revisionism") prevailed in Western Europe down to the 1970s, and is typified by the British Labour Party. It was inspired by [[Socialism]] and closely linked to labor unions that had real power. The goal was for the government to own ("nationalize") major industries such as coal mining, railways, steel making, shipbuilding, airlines, and banking. Small businesses remained private. The idea was that labor unions controlled the government and therefore unions controlled working conditions and wages for the benefit of workers, regardless of the damage to long-term economic growth. | The second form of Socialism (sometimes called "Revisionism") prevailed in Western Europe down to the 1970s, and is typified by the British Labour Party. It was inspired by [[Socialism]] and closely linked to labor unions that had real power. The goal was for the government to own ("nationalize") major industries such as coal mining, railways, steel making, shipbuilding, airlines, and banking. Small businesses remained private. The idea was that labor unions controlled the government and therefore unions controlled working conditions and wages for the benefit of workers, regardless of the damage to long-term economic growth. |