Socialist Outlook

Socialist Viewpoint, International, Socialist Outlook and their supplements, 1984–2002

Names hung Lloyds dead loss

Socialist Outlook no. 56, February 5 1994 · 377 words

Editorial

The next bit had me reaching for my hanky: 'So far more than 30 Lloyd's investors have killed themselves or died early as a direct result of their Lloyd's losses.' Stop sniggering, you heartless Trots.

'Mr Harold Weston, a 51vear-old solicitor, hanged himself from the banisters of his home in north west London. Several others have hanged themselves.

Some have shot themselves and others gassed themselves in their cars.' All to no avail, apparently: 'The fact is that Lloyd's liability continues beyond the grave.' full powers of the state.

In response, most TUC and Labour leaders have embraced the defeatist politics of 'new realism', effectively proclaiming total surrender on every front, while ditching any pretence that they offer a socialist alternative. Every retreat and concession they have made to the employers and the government has simply fuelled and encouraged the offensive against jobs, wages, conditions and union rights.

New realism is the latest form taken by the politics of reformism, seeking no more than improved conditions within the framework of capitalist rule.

Socialist Outlook rejects reformism, not because we are against fighting for reforms, but because we know that the needs of the working class - for full employment, decent living standards, a clean environment, peace and democracy - can never be achieved under capitalism.

Nor, as we argued long before the collapse of Stalinism, could sectarian posturing and abstention from the actual struggle taking shape within the labour movement, playing into the hands of the right wing.

Nor do we believe that the demands of women, black people, lesbians and gays or the national demands of people in Scotland and Wales should be left to await the outcome of a socialist revolution. The oppressed must organise themselves and fight now around their own demands, which are a part of the struggle for socialism.

But propaganda alone, however good, will not bring socialism. The fight for policies which can mobilise and politically educate workers in struggle, must be taken into the unions, the Labour Party and every campaign and struggle in which workers and the oppressed fight for their To strengthen this fight we press for united front campaigns on key issues such as fighting racism and fascism - in which various left currents can work

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