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Socialism (view source)

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→‎Britain, the Labour Party and Socialism

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Often socialism is a matter of degree and numerous economies in the world are very socialistic such as [[Europe]]an countries (many of which are facing financial difficulties due to over taxation and excessive spending).<ref>https://www.americanthinker.com/blog/2010/05/european_socialism_is_bleeding.html</ref>

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~~== Britain, the Labour Party and Socialism ==~~

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At its inception, the [[Labour Party]] borrowed socialist ideas by committing itself to a program of nationalization under 'Clause 4' of their Constitution, but was always fundamentally committed to the British system of parliamentary government. Clause 4 was formally dropped after the election of [[Tony Blair]] as Party leader, signaling the creation of 'New' Labour.<ref>http://news.bbc.co.uk/onthisday/hi/dates/stories/july/21/newsid_2515000/2515825.stm</ref> The British governments of 1945-1950 and 1950-1951 under [[Clement Attlee]] implemented the nationalization of several industries and utilities, including coal, steel, water, railways and electricity. Former owners of nationalized industries were compensated. The best known example is the nationalization of health care to create the [[National Health Service]] (NHS). This made - literally overnight - health care "free" at the point of delivery for everybody in Britain, and it remains so today.

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In the 1980s under Conservative Prime Minister [[Margaret Thatcher]] most of the nationalized industries were returned to the private sector, and public housing has been sold to the residents. These conservative decisions were endorsed by the "New Labour" of Tony Blair, to the annoyance of elderly radicals who fondly remember the poverty and inefficiencies of the old system.

== Criticism of socialism ==

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