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21/03/2019
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The rise of Millennial Socialism

A new kind of left-wing doctrine is emerging, but it is not the answer to capitalism

Feb.14.– After the collapse of the Soviet Union in 1991, the 20th century’s ideological contest seemed over. Capitalism had won and socialism became a byword for economic failure and political oppression. It limped on in fringe meetings, failing states and the turgid liturgy of the Chinese Communist Party. Today, 30 years on, socialism is back in fashion.

 In America, Alexandria Ocasio-Cortez, a newly elected congresswoman who calls herself a democratic socialist, has become a sensation even as the growing field of Democratic presidential candidates for 2020 veers left. In Britain Jeremy Corbyn, the hardline leader of the Labour Party, could yet win the keys to 10 Downing Street.

Socialism is storming back because it has formed an incisive critique of what has gone wrong in Western societies. Whereas politicians on the right have all too often given up the battle of ideas and retreated towards chauvinism and nostalgia, the left has focused on inequality, the environment, and how to vest power in citizens rather than elites (see article). Yet, although the reborn left gets some things right, its pessimism about the modern world goes too far. Its policies suffer from naivety about budgets, bureaucracies and businesses.

Socialism’s renewed vitality is remarkable. In the 1990s left-leaning parties shifted to the centre. As leaders of Britain and America, Tony Blair and Bill Clinton claimed to have found a “third way”, an accommodation between state and market. “This is my socialism,” Mr Blair declared in 1994 while abolishing Labour’s commitment to the state ownership of firms. Nobody was fooled, especially not socialists.

The left today sees the third way as a dead end. Many of the new socialists are millennials. Some 51% of Americans aged 18-29 have a positive view of socialism, says Gallup ...

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