Hard-left British Marxist Jeremy Corbyn, the new leader of the Labour Party, appointed John McDonnell, a former trade unionist, as finance-minister-in-waiting. McDonnell wants to renationalize banks and impose wealth taxes. The only difference between these leaders and Bernie Sanders or Elizabeth Warren is that they admit they’re Marxists.
McDonnell said that Karl Marx is back in fashion because his ideas help to analyze capitalist foundations. He didn’t bother to mention that Marx’s analysis was tainted by a deep-seated hatred of capitalism. That’s probably not how capitalists want the system analyzed.
“If you look at most of the institutions that are teaching economics today, Marx has come back in to fashion because people have gone back to his analysis of just the basics of how the system works,” McDonnell told BBC radio.
“If you look at our capitalist system, one of the definitive analysts of how it works – not whether it is condemned, or whether it is right or wrong, just the mechanics of how it works, when it was first formed and how it would be developed – actually was Marx,” he said.
“People might disagree with his [Marx’s] conclusions about what to do with the system, but actually to understand how the system works he comes up with some interesting analyses that have been built in to traditional and fairly classical economics,” McDonnell said.
Thanks to Margaret Thatcher, Britain has one of the most open economies in the world according to investors.
McDonnell said Labour would launch a “radical review” of the national institutions that manage the economy, including the Bank of England, if it won power and force multinational companies such as Starbucks and Google to pay “their fair share of taxes” to help fix the country’s public finances.
Sound familiar? This is exactly what Bernie Sanders and Elizabeth Warren are preaching. To some degree, so are Hillary Clinton and Joe Biden.
If they don’t look familiar yet, look at some more of their key ideas.
- Introducing a “real living wage”
- Restoring and extending trade union rights
- Tackling the gender pay gap and building more homes
- Subsidies for firms providing back-to-work support and training.
He has no interest in cutting anything while pretending to be fiscally responsible and interested in the deficit. His statist agenda is clothed in populist rhetoric.
U.S. Marxists lie to make themselves viable but people need to study their platforms and not believe their claims that they are typical Democrats.
It’s unclear how much of a threat these two are to Britain but one thing is for certain, our Marxists, including the one in the White House, are serious threats. McDonnell likes to say Marx has come to Britain. He’s come to the U.S. too.