This blog is pleased to have been one of the first to point out that Labour lost the general election because it was not far enough to the left. Various posts have put arguments and statistics before you to demonstrate the reasoning, endorsed by the landslide victory of Jeremy Corbyn. Today is historic because it marks a change of the political conversation. For too long Opposition from either side has been arguments about degree, or detail or definition. But there has been no challenge to the Thatcher consensus which demonised the role of the state, idolised the power of the markets and accepted the economic model based on asset inflation and debt, rather than tangible wealth creation and real investment. This sucked resources from the base of the economy to its peak, creating exceptional prosperity for the few and grinding down the standard of living for the many.
While the top of the economy was awash with cash, the base was starved of money, impacting employment among the young, wages and services. Hardly a peep came from New Labour about any of the fundamentals since it was the joint architect of this distorted and unfair economic model, because within its boundaries lay the lure of power. And to gain that power New Labour abandoned it roots and the very people the Labour Movement was founded to protect. Tony Blair, probably the most discredited politician in British political history if judged in political terms and not through scandal, derided the notion of a Corbyn victory, telling those who might vote for him to get a heart transplant.
Labour did not need to do that, because by voting in Corbyn it has found its soul. That will lead it to power.