John Mcdonnell, Labour’s Shadow Chancellor today announced Labour’s plans to renationalise the railways and many other public utilities at no cost to the public.
Does this mean that Jeremy Corbyn’s rejection of contemporary capitalism is now the new mainstream, and/ or does this represent the end of Capitalism as we know it?
It does seem that Capitalism has become something of a dirty word ever since the financial crash of 2008, and in a recent poll, most British people regard capitalism as ‘greedy, selfish, and corrupt’; and many are more sympathetic towards socialism, and favor the renationalisation of the railways and utilities.
However, the ideological scare-mongers are out, claiming that re-nationalisation will be far from free, and it will be interesting to see how much genuine public appetite there is for bringing back services into public ownership!
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