This final chapter returns to the four themes established in Chapter 1: tensions between pragmatic and ideological responses to events; Labour’s understanding of socialism; distinctions between revolutionary and parliamentary socialism; and the relationship between the party and the trade unions. It demonstrates how crises have shaped the party’s economic ideology and challenged contemporary understandings of socialism and the means of achieving it. It traces the different strands of Labour’s socialism and argues that the party’s commitment to socialism has drawn from an ethical rather than economic or Marxist lineage. It highlights some differences between the experiences of the party in government and opposition but rejects simple classifications of Old and New Labour, arguing that throughout its history Labour’s economic policy has been guided more by pragmatic concerns than ideology.
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