Posts Tagged ‘‘Imperialism: The Highest Stage of Capitalism’’

Poll Shows 58 Per Cent of Russians Would Like Communism to Come Back

November 25, 2017

This is another great little video from Jason Unruhe of Maoist Rebel News. I’ve already made my opinion about Mao and Stalin very clear: they were mass murdering monsters, who made their countries great through the deaths of millions of their own countrymen. 30 million + soviet citizens died in Stalin’s purges and gulags. 60 million died of famine and in re-education camps during Mao’s wretched ‘Cultural Revolution’.

Nevertheless, these totalitarian states gave their people some benefits. And it shows in the nostalgia many people across the former eastern bloc feel for the old system. According to a poll by RT, 58 per cent of Russians said they would like the Soviet Union to return. 14 per cent stated it was quite feasible at the moment. Forty-four per cent said it was unfeasible, but desirable. 31 per cent said that they would not be happy even if events took such a turn. And 10 per cent could not give a simple answer to the question.

Unruhe then goes into the reasons why so many Russians want the USSR back. He points out that the majority of Russians are not Communists, do not identify with the Communist party and are not members of it. He says it was because there were better jobs, with better pay, far more stability, better vacation times and a higher standard of living. They also had a better infrastructure, which collapsed along with the USSR. He points out that we’ve all seen the images of abandoned, decaying areas which have had their funding withdrawn due to the collapse of Communism. They had a military that the world feared and that the Americans were terrified was going to destroy them all. They also couldn’t be bullied, and they were capable of retaliating in huge ways. Sanctions couldn’t hurt them, and couldn’t destroy their financial system. The Soviet people had a country they could be proud of, and although Putin is pushing Russian independence, he can’t do it nearly to the extent that the old Soviet Union could. And so it actually means something when people, who aren’t Communists, say they’re in favour of its return.

There’s a quote from one of the old Labour thinkers, to the effect that everyone, who believes in human rights must hate the USSR. But everyone, who genuinely has Socialism in his core also admires it.

As I understand it, They old Soviet system was massively sclerotic, with colossal overmanning in industry and enterprises. For example, you couldn’t simply pick up what you wanted at the shops. You had to queue to be served, then pick out what you wanted, and then wait for it to be served to you, and to pay for it. I’ve read of people in architect’s office spending their days transferring figures from one column to another, in what was supposed to be a good job that some people had been working towards for years. Utterly soul destroying.

But at the same time, the state was expected to provide full employment. And it did it, albeit at the expense of quality work. And I’ve no doubt that the pay was better, that people did have better holidays, organised through the trade unions and state leisure organisations. You could go and take a vacation down at one of the spa resorts on the Black Sea.

And everything he says about the Soviet Union’s industrial and military power is also correct. In the 1950s under Khrushchev, the Soviet Union made such rapid advances that the Americans were terrified that they would win, and overtake capitalism as the affluent, consumer society. Didn’t happen, but it would have been brilliant if it had.

And Unruhe is also correct when he says that the Russians were no threat to Europe or the West. They weren’t. After the initial expansion, the apparatchiks and nomenclature in the Communist party were content with simply holding the system together and feathering their own nests with Western goods they brought back from their diplomatic travels abroad.

As for the Russians not being Communists, I can remember being told by Ken Surin at College, who is now a writer for Counterpunch, that there were more Communists in America than the USSR. Having said that, Soviet citizens grew up in an explicitly political environment, where they were indoctrinated with atheism and the ideal of the Communist regime. Some of that is going to sink in, even if they are otherwise alienated from the Communist party.

But the introduction of capitalism under Yeltsin destroyed Communism, and dam’ near destroyed Russia. The economy went into meltdown, so that instead of paying their workers wages, factories paid them in kind. In one firm making sewing machines, they gave their workers those machines.

And the economic meltdown directly affected people’s health. Russia didn’t have a welfare state as such. There was no unemployment benefit, as you didn’t need one. Unless you were a subversive ‘parasite’ and an enemy of the system, the state found you work. But there was a free, state medical service, with more doctors than America. In practice, how well you were treated depended on your ‘blat’ – your clout, leverage, whatever. It was a very corrupt system. But this melted down along with the economy, and doctors started going private. Just as they’re continuing to do under Putin.

As a result, illness rates shot up. In Lukashenko’s Beloruss, which retained the Communist system, people remained as healthy – or unhealthy – as they were before Communism collapsed in the USSR.

And none of this was done for the Russians’ benefit. Oh, Yeltsin hoped that capitalism would improve things in Russia, but it was all financed, once again, by Clinton and the Americans, who poured tens of millions into political advertising.

I’ve already made my own low opinion of Lenin abundantly clear: but he was right in his pamphlet Imperialism: the Highest Stage of Capitalism. Russia, and other less developed nations like it, were held back by global capitalism. They were then. And it’s the same goal now, except that as Killary can’t have her way she’s starting a new Cold War.

Well, millions of Russians want their country back.
And they’re not alone. You can find roughly the same percentage all over the former Communist bloc. The former Soviet satellites hate the Russians, particularly in Poland. But they had a better standard of living, work, and a system that had larger ideals. They were told that they were the progressive vanguard leading humanity to a brighter, better future. Racism was there, but it was frowned on. Women were treated as second-class citizens, but at the same time the state and Marxist ideology was also concerned with their liberation and getting them into masculine jobs.

And some of the old Communist countries weren’t that far behind the West. I’ve read that if you tweaked the stats a little, then economically the old East Germany was about equal, or just behind, the north of England. Which isn’t an advert for Communism, but even less of one for Thatcherite capitalism.

In short there’s a saying going round eastern Europe: ‘Everything the Communists told us about Communism was a lie. Everything they told us about capitalism was true.’

Capitalism isn’t working. And the peoples of eastern Europe know this. It isn’t working here either, but we’re too blinded by the mass media, and the illusions of past imperial greatness, to realise it.

Advertisements

Credo! Pat Mills on 40 Years of Thrillpower!

September 14, 2017

Pat Mills is one of the great creators of the British comics industry. In this video from 2000 AD on YouTube, he talks to host Tony Esmond about his career in the comics industry, politics and his determination to give readers working class heroes. The interview was at the 40 Years of Thrillpower convention earlier this year (2017).

Mills is best known as one of the creative forces who seriously upset the establishment with Action before going on to reoffend with 2000AD. Before then he started off writing for the 1970s children’s comics, like Corr! The experience of writing for them was not happy for him. He states that the people behind them had no particular interest in them and very much had a production-line mentality to their creation. He describes how one writer once asked him how many stories he could write in a day. When he said about one every two or three days, the other writer boasted that he wrote three in a day. And then went on to say, probably quite truthfully, that he was making more money than the prime minister. Mills states that the writers at IPC were able to do this because they wrote very much to a formula. He preferred the stories their competitors at DC Thompson produced. Although their comics were also stuck in the past, the stories were better crafted. He describes one strip about a man going around the country having adventures with a horse. As a concept, he says it wasn’t even at the level of afternoon television. But it was well done. The IPC comics, on the other hand, were soulless. It depressed him so much, that, when he and John Wagner, who also later went on to become one of the founders of 2000AD, were writing in a garden shed, he wrote all his scripts on a roll of wallpaper so they formed a continuous strip and he wouldn’t have to go back and read them all again.

British comics in this period were very much stuck in the past, even as British society changed. This was a time when the German experience of the war was appearing in the books of Sven Hassel, reflected in Action’s strip, Hellmann of Hammer Force. But yet Mills found it impossible to launch a strip whose hero was Black. This was to be a strip about a Black boxer. He was told that it wouldn’t work. People would not accept a Black hero. They’d accept a Black supporting character or friend. But as the central character, never. He also thought of introducing one about a Black football player, and that would have been even more controversial. There was a Black football player in one of the London clubs at the time, and he had been treated with racist abuse from the balconies.

Politics and satire have always been an important element of Mills’ work. He says that at one point he became dissatisfied writing for 2000AD, as the management were trying to shift the comic away from its traditional satirical stance, and this very much went against Mills’ own nature. He and Esmond discuss at one point Mills’ memory that, when they launched 2000AD, the management told him that they should imagine a future that they would actually live in. And now, he states, they’re living in it with Donald Trump’s presidency of the US, which Mills compares to the infamous Judge Cal. Cal was the mad Chief Judge in Judge Dredd, modelled on Caligula, who appointed his pet fish as a judge, called in the alien Kleggs to suppress any opposition in Mega City 1, and had another judge pickled. Perhaps we need to be very glad that NASA hasn’t made contact with intelligent aliens yet.

Mills remarks on how very many of the heroes of British literature, from Sherlock Holmes to John Buchan’s Hannay, have been members of the upper and upper middle classes. There are too many of them, and too few working class heroes. He’s been actively trying to redress this imbalance in his strips. It’s why Marshal Law, in his alter ego, used to be unemployed, but is now a hospital orderly. He’s not even a nurse.

He states that as he grew up in the ’50s and ’60s, he read many the authors that were around then, like Dennis Wheatley and John Buchan, all of whom were members of the upper classes. And with some of them, it was actually quite sinister. Buchan was a major propagandist for the First World War, in return for which he was rewarded with the governorship of Canada. And he did it very well. Later on in the video, in response to a question from the audience he remarks on how there is a very definite campaign in this country to suppress anything with an anti-war message. He was asked what the research was for his story in Charley’s War about the British invasion of Russia in 1918-19. He states that there were only two books he was able to get hold of at the time, but since then he got hold of a very good book, which is a much fuller description. This describes how the British officers sent in to overturn the Russian Revolution behaved like absolute animals. This episode has largely been airbrushed from British history. He contrasts with the British media’s refusal to publicise anti-war stories with that of our cousins across le manche. Attitudes there are much different, and Charley’s War, which ran in Battle and was about the experiences of a working-class Tommy in the First World War, is more popular in France even than Britain. This bias against anti-war stories is why you didn’t see Blackadder Goes Forth repeated in the centenary year of the War’s outbreak.

Mills is also critical of the way the indigenous mythology and legend of the British Isles has been suppressed in favour of myths from further south – Greece and Rome, and ancient Egypt. Mills’ background, like Kevin O’Neill, was Irish, and his family were very patriotic. He grew up knowing all about Michael Collins, and his middle name is Eamon after the first president of Eire, Eamon de Valera. Yet it wasn’t until he started researching the Irish, as well as the Scots and Welsh legends, that he learned about any of those stories, and was shocked. Why didn’t he know about the warpspasm – the ultra-berserker rage that transforms the Celtic hero Slaine as he goes into battle? He also talks about how, in legend, London was founded by the Trojans as New Troy, and briefly mentions his treatment of this in the story he is or was currently writing for the Slaine strip. He states he wanted to produce a barbarian strip that was set in this country, complete with its grey skies and rain.

Mills has a deep admiration for these Celtic legends, but remarks on how they differ considerably from the other mythological tales. They don’t share their structure. If you read the Norse tales or Beowulf, there’s a structure there. But the Irish – which he uses to include also the Scots and Welsh stories – read like they’re on acid. He’s particularly impressed with the Tain, otherwise known as the Tain Bo Cualnge, or in English, The Cattle Raid of Cooley, and recommends the translation by Kinsella. He’s also particularly interested in finding the bits that were suppressed by the Christian clergy who wrote them down in the Middle Ages. He gleefully quotes one clerical writer, who says that the stories contain much that is true, much that is false, some lies, and some devilish invention, and some which is only fit to be read by idiots. Yeah! he shouts, that’s me!

He has the same mischievous joy when telling how he came to be persuaded to write the Invasion strip, in which Britain was invaded by a thinly disguised Soviet Russia. The management asked him if he wanted to write it. He said he couldn’t get up much enthusiasm. They urged him to read Alexander Solzhenitsyn’s The Gulag Archipelago. So he worked his way as best he could through that. He still wasn’t enthusiastic. Then they asked him if he’d like to write a scene with Maggie Thatcher being shot by the Russians on the steps of St. Paul’s. His response: Yeahhh!

He also talks about how the brutal education he received at a school run by the De Lazare order inspired him to write the Nemesis the Warlock strip. The Terminators, and to a lesser extent Judge Dredd, were modelled on them. They were fanatical, and were quite sinister. He remarks that if you go on the internet you can find all sorts of tales about them.

He also talks about an abortive crossover story planned for Marshal Law and Batman. Marshal Law was a bitterly satirical, extremely violent and very funny strip published in the 1990s about a superhero in the devastated San Francisco of the early 21st century, who hates other superheroes. The superheroes in the strip were created for a Vietnam-like war in South America, and have come back disillusioned and traumatized by the conflict. As a result, they form violent street gangs, and Marshal Law is recruited by the police to clean them up. It was a very dark comic that relentlessly parodied superhero comics from a left-wing, feminist perspective. When DC announced they wanted to make the crossover, Mills thought that they weren’t really serious. But they were. So he and O’Neill decided that for the cover, they’d have the Marshal standing on a pile of bodies of the different versions of Batman from all across the alternative Earths of the Multiverse. Then DC’s management changed, and their story policy did too, and the idea was dropped.

Mills also discusses the various ways comics have been launched, only to be merged with other comics. With 2000AD the comic was merged with Tornado and then Starlord. It was a very cynical policy, as from the first these comics were intended to fail, but by merging them with 2000AD and other comics, the management presented it as giving their readers something new, even though it wasn’t, and they felt it was an intrusion. He also responds to another question about which comic he felt folded before its time. The obvious answer to this was Action, which upset the establishment so much that it was banned, before being sanitized and relaunched. Mills said that they knew the comic was doomed. The new editor, who was given control of it had previously edited – and this is almost unbelievable – Bobo the Rabbit – and so didn’t know what he was doing. Mills said that before then they had skated over what was just about unacceptable and knew just how far you could go. Because this new editor hadn’t had that experience, he didn’t, and the comic folded.

The comic that he really feels shouldn’t have folded, and could still have carried on today, was Battle. As for which comic he’d now be working on instead of 2000AD, if it had proved more successful, these were the girls’ comics, like Misty. They vastly outsold the boys’ comics, but ultimately folded because ‘the boys took over the sandbox’. The video ends with his answer to the question, ‘What is his favourite strip, that he wrote for?’ He thinks for a moment, before replying Nemesis the Warlock to massive cheering.

It’s a very interesting perspective on the British comics industry by one of its masters. Regarding Slaine, Mills has said before in his introduction to the Titan book, Slaine the King: Special Edition, that the achievements of our ancestors, the Celtic peoples, has been rubbed out of history in favour of the ‘stern but fair proto-Thatcherite Romans, who built the roads and made the chariots run on time’. I think part of the problem is that the legends Mills draws on – that of Gaelic Ireland and Scotland, and Brythonic Wales – are those of the Celtic peoples, who were defeated by the expanding Anglo-Normans, who made a concerted attempt to suppress their culture. As for the very frank admiration for the Romans, that partly comes from the classics-based education offered by the British public schools.

As for the very staid attitude of British comics in the 1970s, this was a problem. It was actually a period of crisis, when many of the comics were folding because they hadn’t moved with the times. Mills’ idea for a strip about a Black boxer is clearly modelled on Mohammed Ali, the great African-American athlete of the ring. Everyone knew Ali, and he was universally admired, even by kids like me, who didn’t understand or know much about the racial politics behind Ali’s superstardom. Ali said that he wanted to give his people a hero.

Even so, the idea of having a sympathetic Black supporting character was an improvement. Roger Sabin, in his book Comics, Comix and Graphic Novels: A History of Comic Art, published by Phaidon, notes just how racist British comics were in the 1960s. This was very controversial, as Black people naturally objected. Sabin cites one strip, in which the White hero uses two racial slurs for Blacks, and another abusive term for Gypsies. And showing the type of strips that appeared in the 1920s, there’s an illustration which shows the Black characters from a strip in one of D.C. Thompson’s comics, either the Dandy or Beano at the time. This was The Colony N*gs. Only they don’t use an asterisk to try to disguise the term.

As for his experiences with the monks running his school, unfortunately he’s not the only one, who suffered in this way. I’ve met a number of former Roman Catholics, who were turned off religion, and in some cases became bitterly against it, because of their experience being taught by monks and nuns. Several of Britain’s most beloved broadcasters from the Emerald Isle were also turned off religion because of this. Dave Allen, who regularly poked fun at religion, and particularly the Roman Catholic church, said that he became an atheist because of the cruelty and the way the priests tried to scare their young charges at his old school. And that mainstay of British radio, Terry Wogan, in a series he presented about Ireland and his life there, said exactly the same about the effect the hard attitude of the teachers at his old Roman Catholic school had on him.

The Roman Catholic church does not have the monopoly on the abuse of children, and I’ve heard some horrifying tales of the brutal behavior of some of the teaching staff – and prefects – in some of the British grammar schools. Dad has told me about the very harsh regime of some of the teachers at his old school – not Roman Catholic – in Somerset. He describes the teachers as sadists, and has a story about how one of the teachers, when one of the boys couldn’t answer a question, threw the lad out of window. Brutality seems to have been built into the British educational system, leaving mental scars and bitter memories.

I’ve very mixed feelings about the British force sent against revolutionary Russia. Perhaps if we’d succeeded, the forty million Soviet citizens butchered by Stalin would have been able to live out their lives, and the peoples of the Russian Federation free of the shadow of the KGB and gulags.

But that’s with hindsight. That’s not why British troops were sent in. The Bolsheviks were anti-democratic and determined to suppress all other parties and factions except their own, even when these were Socialist or anarchist, like the Mensheviks, the Trudoviks, the Socialist Revolutionaries the Left Communists, Anarcho-Communists and syndicalists. But we sent in troops because Britain and the rest of the capitalist world felt threatened by the emergence of a working class, aggressively socialist state. Britain had many commercial contacts with pre-Revolutionary Russia, and Lenin had argued in his pamphlet Imperialism: The Highest Stage of Capitalism that global capitalism depended on European imperial expansion. These nations enslaved and exploited developing nations like Russia. A socialist revolution in these countries threatened international capitalism, as it was here that the capitalist system was weakest. Hence the Bolshevik slogan, ‘Smash capitalism at its weakest link!’

Ordinary Russians, let alone the conquered nations of the Russian Empire, were oppressed and exploited. If you want an idea how much, and what ordinary Russians endured and struggled to overthrow, read Lionel Kochan’s book, The Russian Revolution, published by Paladin. This was the grotty system British troops were sent in to restore.

On a more positive note, one member of the audience in the video thanks Mills for encouraging him to read. The man says he was dyslexic, but it was the comics he consumed as a child that got him reading. He is now a teacher, who specializes in helping children with reading difficulties, and uses comics in his teaching.

This is really inspiring. Martin Barks in Comics, Ideology and Power, discusses how comics have always been regarded with suspicion and contempt by the establishment. They were regarded as rubbish, at best. At worst they were seen as positively subversive. I can remember how one of the text books we used in English at school included a piece of journalism roundly condemning comics as rubbish literature with bad artwork. And this was reprinted in the 1980s! My mother, on the other hand, was in favour of comics because they did get children reading, and used to encourage the parents of the children she taught to buy them when they asked her advice on how they could get their children to read if they wouldn’t read books. This shows how far comics have come, so that they are now respectable and admired.

Why I Didn’t Buy ‘Private Eye’ Yesterday

September 3, 2016

I regularly buy Private Eye, but for the first time in a very long while, I didn’t buy it. I’ve put up a couple of pieces here talking about the very pronounced anti-Corbyn bias there is in the magazine. The ‘In The Back’ section, and its predecessor, ‘Footnotes’, before that exposed the privatisation of the NHS by the Tories and Blair, along with the sell-off of the buildings owned by the Tax Office, the transformation of the schools into increasingly expensive academies and the privatisation of the Royal Mail. The magazine has also attacked the Work Capability Tests, benefit sanctions and workfare. This has all been excellent, but I’ve found this outweighed in recent weeks by the space it gives the Blairites to smear the Labour leader, with no attack on them. There’s a regular strip, ‘Focus on Fact’, which is supposed to expose the dirty dealings of Corbyn and his supporters. This mostly seems to be a rehash of events 30 years or so ago in the 1980s. There have also been pieces attacking The Canary, and smearing the various YouTubers, who didn’t buy Angela Eagle’s lie about the Corbynists throwing a brick through her constituency office window. The Eye attacked them as ‘conspiracy theorists’.

This fortnight’s issue had on its cover a piece about ‘Traingate’, with a headline about Corbyn lying. Now I might be wrong, and the magazine could have been making a critical comment instead about how Corbyn was maligned by the papers yet again, when they reported Virgin Trains’ claim that there were spaces available for him to sit. But I didn’t think so at the time. It looked to me like another in the magazine’s long list of smears. And so I didn’t buy it. I spent part of the money I’d saved instead on a big bar of chocolate. And very nice that tasted too.

Corbyn’s really our only hope in the Labour party of undoing the harm done by nearly forty years of Thatcherism, and particularly all the evils the magazine has done so much to investigate and expose over the years. But Hislop has decided instead to throw his lot in with the corporatists and profiteers, who oppose him. Some of this might be due to the magazine’s links to MI5 through Auberon Waugh, as described in a piece in Lobster many years ago, ‘Five at Eye’. Corbyn opposes the current military build-up on the borders of Russia and the Ukraine. He also talked to the Republicans in Northern Ireland in an attempt to find a peaceful solution, just as he went to Israel to talk to the Palestinians. All actions which currently undermine British foreign policy, which is pure neoliberal corporate imperialism, not so different from what Hobson described over a century ago in his Imperialism, and by Lenin in Imperialism: The Highest Stage of Capitalism. But this makes him a threat to the British state, and particularly its role in supporting Israel and the ethnic cleansing of the Palestinians. And so no effort is being spared to destroy him, including hit pieces in the Eye.

My refusal to buy Hislop’s dangerously biased magazine yesterday on its own will have absolutely no effect whatsoever. Indeed, the magazine over the years has taken a kind of perverse pride in offending readers. Its letters page over the years has often been filled with angry readers deeply outraged about their treatment of some issue or another, and cancelling their subscriptions. The most notorious example of this was their cover criticising the mixture of hysteria and voyeurism amongst the crowd at Lady Di’s funeral. To balance the negative correspondence, the Eye also prints letters supporting the controversial piece. Again, there was no shortage of them when it came to Di’s funeral.

If enough people stop buying the magazine, it might have some effect even then. All the newspapers’ profit margins are under attack from the rise of the new media and telecommunications generally, and I doubt that Private Eye is an exception. Though even there, I doubt it will do much harm. As I said, the Eye has always taken a kind of pleasure in outraging and alienating its readers. Nevertheless, it might be vulnerable if enough left-wing readers do it. My guess is that despite the magazine and its founders being very middle class establishment, most of its readers are probably left-wing. It ran a piece a few years ago about a proposal in parliament to give a vote in support of the Eye. Very few Tories gave their support; more Lib Dems did, but most of the votes came from the Labour party. Perhaps if enough left-wingers recognise its pro-corporatist Blairite bias and stop buying it, that might nevertheless shake Hislop up a bit.

And then again, perhaps not. But speaking for myself, I decided yesterday I was sick of its lies and smears, and passed over it at the magazine racks. You make your own decisions about supporting the magazine or not.

The Spectator, A British Investment Bank, And the Globalised Chains of British Industry

April 27, 2014

I also reblogged on Friday another piece from Mike, over at Vox Political, The Tories have run out of momentum, ideas and even arguments criticising a piece in the arch-Tory magazine, The Spectator, by Frasier Nelson. Nelson was pondering the lead Ed Milliband was making over the Tories in the polls, and attempting to do his pit to prevent a Labour victory next year by criticising some of Milliband’s policies. Mike pointed out that his article was very much an ‘own goal’, as rather than showing how wrong Milliband and his policies were, they actually showed the opposite. Of course what frightened Nelson was the prospect of further state regulation. Mike turned the arguments around by showing how, if one replaces ‘regulation’ with ‘help’, all Nelson’s comments about Labour and state regulation actually appear as a ringing endorsement of Milliband’s policies. He’s invited Speccie readers to come over and comment on his piece, but so far, none have.

One of Milliband’s policies that particularly caught Nelson’s scorn was Milliband’s suggestion that there should be an investment bank for Britain, and two high street banks. This, said, Nelson, was a throwback to Neil Kinnock’s policies in the early 1980s. So it is. And it’s right.

The authors of the book Socialist Enterprise: Reclaiming the Economy, also urged the establishment of a British investment bank, because the existing banking and financial structure in Britain is geared to overseas, not domestic investment. The book was written in 1986, but it’s still true 28 years later. And British manufacturing has suffered as a result.

As for the foreign investment, particularly from the Far East, that the Conservatives have tried to attract to Britain, this has not supplied the amount of financial support that British industry requires. One of the complaints and criticisms made of the utility companies a few months ago was that they were mostly owned by foreign companies. These used them as a source of income, while not investing in their expansion or improvement. This is almost to be expected. The Chinese and other Developing Nations that Cameron and previous administrations have appealed to for investment in Britain are intent on developing and expanding their own industries and economy. They therefore have little interest in propping up the economy of what many of them see as a competitor and colonial oppressor.

I used to work with a former diplomat, who told me that the Chinese still feel an immense humiliation against Britain for their defeat in the Opium Wars and the conquest and domination of their country by the European powers and America in the late 19th and early 20th centuries. He was of the opinion that as China became a global power, it would deliberately destroy our economy, before moving on to do the same to the Japanese.

In this respect, de-industrialising Britain is similar to industrialising Russia in the 19th century, according to Lenin and the Russian Populists, who preceded him. In his Imperialism: The Highest Stage of Capitalism, Lenin argued that Russia had effectively been colonised economically by the European powers. Like their formal colonies, these used Russia to supply raw materials and agricultural produce to their manufacturing industries, and as a market for their own finished goods. They did not, however, want Russia itself to industrialise and provide a competitive threat to their own manufacturing industries and economy. The only solution, Lenin argued, was for the Russian workers and peasants to seize power in the revolution and ‘Smash capitalism at its weakest link’. Under the dictatorship of the proletariat, Russia would industrialise and take its place as a modern, industrial power.

Britain doesn’t need a Revolution and consequent bloodshed. But we do need a proper investment bank to supply the financial support British manufacturing industry actually needs, and which has been so lacking under the globalised economy promoted by the Neoliberals. Of course, this is going to upset High Tories like Frasier Nelson, for whom any kind of state intervention is automatically a Bad Thing, especially as it curtails the financial sector’s ability to make money however they want, regardless of the consequences. In his opposition to the Bank, Nelson has shown how little the Tories actually care about promoting British industry, beyond trying to find yet another foreign buyer. It’s another example how they’re prepared to sacrifice the wider economy for their greed of the financial sector.