A New Political Economy

Democracy must become the lifeblood of progressive politics. Social democrats have placed too much emphasis on the first part of their name and insufficient on the second. Social equality is only likely to be secured and sustained within an increasingly democratised society. The left lost its hold on the public's imagination when capital went global in the 1970s and democracy failed to respond. Only by rebuilding the democratic impulse at every level of social organisation can the power of markets be used in society's interests.