Labour Party to socialism Essay

Explain the ideas and policies which link the innovational Labour Party to socialism. (10 marks) Socialism is the economic system based on cooperation rather than competitor of businesses which utilizes centralized planning and redistribution of wealthiness. Industry is state owned and therefore companies have government monopolies on them which results in no competition. Industries are redistributed though the state to achieve a fairer society. Traditional Labour value were indeed a form of socialism as some of their core values include a large wel furtheste state, mild redistribution of wealth through taxes and social mobility. Socialism was founded in 1789 if the modern solar day Labour party had the same ideologies as those of the original socialist politicians then it would be considered a far right party in todays political spectrum.Since its origins, the principles of socialism have evolved into many contrary forms of itself to make it compatible with society. There are m any links to many differing forms of socialism both tralatitious and modern in todays Labour party. Democratic socialists i.e. Labour believe in par of opportunity this means that every unmatchable has the same opportunities to maximise their potential and accomplish high positions in life no matter what their background or ethnicity, for example a labourers child can constitute a lawyer or politician if he/she desires and they will not be discriminated against. This is still one of Labours core values, therefore linking to traditional socialism.Another concept of democratic socialism is the redistribution of wealth an example of New Labour doing that is increasing the amount in social housing estates, or the admittance of the windfall tax which raised ?5billion to set up the New Deal which helps the long term indolent back to work through training and employment, thus giving opportunities to those who previously didnt have the skills to return their own wealth. Traditional so cialism wants radical constitutional reform e.g. democratise institutions such as the habitation of Lords. New Labour does want constitutional reform such as the de-centralisation of power and mild theater of Lords reform e.g. it is elected not inherited. So therefore shows that Labour does still have socialist values.