TWE do socialists agree on the economy

T1 – Rejection of Capitalism (A)
Revolutionary Socialism =

Capitalism inherently exploitative, cannot be fixed and must be removed.
Marx says capitalism based on extraction of “surplus value” from proletariat. Historical Materialism, capitalism is fleeting stage must be violently overthrown to end chaos of market production, replace with common ownership.
Luxemburg says capitalism requires constant expansion, imperialism must be rejected to preserve fraternal human nature.

Social Democracy =

Capitalism flawed, requires fundamental restructuring (distortion to serve collective interest).
Webb believes capitalism causes deep inequality, up to  “inevitability of gradualism”, socialist gov slowly collectivise, workers keep voting for them as life improves until capitalism is replaced.

Extent =

Somewhat significant agreement in capitalism harming society, but vastly different approaches (rev = against the state, sd = within the state).

T2 – Private Property (DA)
Revolutionary Socialism =

Private Prop is bad, reinforces inequality in capitalism.
Marx says private prop is a way the bourgeoisie exploit proletariat, prevent things from being collectivised & redistributed, creating inequality. Removing private prop brings closer to revolution, free proletariat from capitalism’s ills.
Luxemburg says removing private prop benefits largest number of people, otherwise becomes impossible for proletariat to own and so only benefits bourgeoisie owners.

Third Way =

Private Prop helps generate wealth, enables free market
Giddens says old socialist obsession with collectivisation incompatible with globalisation. NeoLib economy embraced with protected private prop as human right, ownership gives stake and security, drives competition and growth needed to fund social investment state. “HAND UP NOT A HAND OUT”, economy remains private including property so state can focus on human capital (education).

Extent =

V. sig. disagreement, irreconcilable difference between property being theft from proletariat comp to necessary for modern neolib economy.

CCLN =

Overall significant disagreement, slow transition within strands of being against exploitative state to then utilising state demonstrates incompatible views of the economy.