Morning Star letter on Corbyn`s socialism

John Ellison`s excellent analysis of the reasons for Corbyn`s "campaign takeoff" correctly concluded with the comment that "the little socialism left in the bank vaults of the Labour Party after its sell-off is being replenished" (Morning Star,01/08/15). That this appears to have taken the "three centrists" by surprise emphasises the truth of the July 6th editorial, quoted by Ellison, about the "gulf " between Labour MPs and "the people they represent", so the response from the other candidates is to be expected: Corbyn is "taking us back to the 80s". What utter nonsense!

 Corbyn`s policies are 21st century answers to 21st century problems! His proposals for the re-nationalisation of railways and water and energy companies, and for greater regulation of the financial and private rental sector  alone could transform the lives of millions!  

      Is it not possible that the public, the young especially, are fed up of being repeatedly told the lie that economic growth leads to better jobs, and that wealth will "trickle down"? "Profit at all costs" is the motive which drives most companies, as can be illustrated again last week by the announcement by Barclays that, despite first half-year profits being up 25% to £3.1bn, more job losses are expected on top of the 19,000 cut last year. Branch employees, it seems, must be punished for the bank`s huge string of mis-selling scandals, rate-rigging, and consequent fines, whilst the outgoing chief executive, the recipient of a unanimous vote of no confidence, gets a pay-off worth at least £2.5 million, plus, no doubt, a very generous pension. Meanwhile,the government`s attitude is revealed by Osborne`s sacking of the Financial Conduct Authority`s chief executive, Martin Wheatley, responsible for a record level of fines on financial firms!

      Similarly, a doubling of profits by British Gas residential power supply business, and the accompanying announcement by the parent company, Centrica, that it is to cut 6,000 jobs, only reinforce Corbyn`s arguments.

      It comes as no surprise that Corbyn`s socialism is resonating with the public, when 21st century capitalism continues to thrive on inequality and exploitation, supported by a majority of fawning politicians.