LABOUR’S ECONOMIC IDEOLOGY SINCE 1900

Developed through Crises

Christopher Kirkland

First published in Great Britain in 2022 by

Bristol University Press

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ISBN 978-1-5292-0424-7 hardcover

ISBN 978-1-5292-0431-5 paperback

ISBN 978-1-5292-0432-2 ePub

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Contents

  • Acknowledgements vi

  1. 1Introduction: The Labour Party’s Economic Policy and Crises 1

    • Understanding crises 9

    • Outline of the book 12

  2. 2Taff Vale and the First World War 14

    • Introduction 14

    • The early Labour Party 14

    • Taff Vale, 1900–1901 17

    • The First World War 20

    • Labour’s ideology 23

    • Labour’s responses to the crises 26

    • Labour’s understanding of socialism 27

    • The Labour Party and the trade unions 30

    • Conclusion 34

  3. 3Governing in Hard Times: The Second Labour Government and Need for a Coherent Economic Policy 36

    • Introduction 36

    • The General Strike of 1926 36

    • The Great Slump of 1931 39

    • Labour’s ideology 42

    • Labour’s responses to the crises 49

    • Labour’s understanding of socialism 51

    • The Labour Party and the trade unions 54

    • Conclusion 56

  4. 4The Second World War, Reconstruction and Revisionism 59

    • Introduction 59

    • The Second World War and the immediate post-war period 59

    • The sterling crisis of 1947 62

    • Labour’s ideology 64

    • Labour’s responses to the crises 68

    • Labour’s understanding of socialism 70

    • The Labour Party and the trade unions 75

    • Conclusion 78

  5. 5Testing the Labour–Unions Relationship 80

    • Introduction 80

    • The devaluation of sterling in 1967 81

    • Labour, the IMF crisis and the Winter of Discontent 85

    • Labour’s ideology 90

    • Labour’s responses to the crises 92

    • Labour’s understanding of socialism 94

    • The Labour Party and the trade unions 96

    • Conclusion 99

  6. 6The Advent of New Labour 101

    • Introduction 101

    • From government to opposition: an electoral crisis 102

    • Labour’s ideology 108

    • Labour’s responses to the crisis 111

    • Labour’s understanding of socialism 114

    • The Labour Party and the trade unions 117

    • Conclusion 119

  7. 7New Labour and the Global Financial Crisis 121

    • Introduction 121

    • The crisis of 2007/2008 123

    • Labour’s ideology 125

    • Labour’s responses to the crisis 129

    • Labour’s understanding of socialism 132

    • Labour and the trade unions 135

    • Conclusion 137

  8. 8Electoral Revision 139

    • Introduction 139

    • (More) wilderness years 140

    • The 2016 Brexit referendum 144

    • Labour’s ideology 147

    • Labour’s responses to the crisis 152

    • Labour’s understanding of socialism 154

    • The Labour Party and the trade unions 157

    • Conclusion 158

  9. 9Conclusion 161

    • Understanding Labour’s crises in a historical context 161

    • Labour’s socialism 162

    • Labour in government and opposition 166

    • (How) can Labour win again? 168

Acknowledgements

Like many other publications, this book has taken a significant amount of time to compile and is the product of much labour, not all of which has been mine.

I would like to thank first and foremost the editor, Stephen Wenham. When we first discussed this book in summer 2017, I did not envisage still writing it some four and a half years later. The delays in production have been my fault and mine alone, but the patience the editorial team has shown is much appreciated.

One reason for the delay was the onset of the COVID-19 crisis, which proved to be a rupture to traditional working patterns, encompassing both teaching and research. This undoubtedly impacted on the book, although its impact would have been much more severe without the support of staff at the library services at York St John University, who worked tirelessly to accommodate my numerous requests for electronic documents and inter-library loans. Thank you for your fantastic support.

I would also like to thank those who have had some input into the writing of the book, either overtly or implicitly. I would like to thank the anonymous reviewer for their comments, which I believe have strengthened the book. I hope, should they read the final iteration, they feel I have achieved this as well. I would also like to say thank you to the students who I have taught on modules covering the Labour Party, discussions with whom helped me think more holistically about the ideas and themes being discussed.

Finally, I wish to express my thanks to my father, who has tirelessly helped to proofread this book and engaged in discussion of some of the themes and ideas contained within it. Talking through the ideas offered a real sense of clarity and helped me to express my ideas on the pages that follow more clearly. Thank you.

I have received a lot of assistance with the book, although I am responsible for its contents and all errors are mine, and mine alone.