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Martin Wolf on the Crisis of Democratic Capitalism

The Good Fight

The Importance of the Industrial Working Class in the History of Capitalism

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The industrial working class as a mass force never created a communist revolution. Marx's theory that it will be the industrial working class that would generate the end of capitalism turned out to be historically completely false. The welfare state, famously really started by Bismarck in Germany and giving them ever increasing political rights, extending the franchise, allowed them into politics. In Britain, for example, in the early 20th century, training the Labour Party. He didn't want communism. It was consistently anti-communist,. saying with the democrats in America when the unions became an enormous part of their base support. There was no question about that. That was one of their needs, but they didn

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