Managing the Mixed Economy

Socialism and the mixed economy are entirely compatible. That belief is shared by almost every Labour voter in Britain and a vast majority of Labour Party members. Support for the mixed economy has been embodied—directly or by implication—in every decision that any Labour Government has ever made. Since Labour and the New Social Order—the manifesto of 1918 which first committed the Party to a programme of public ownership—we have invariably adopted the Tawney technique for determining the merits of additional nationalisation: