With regards to the OP, here’s my tuppence worth.
Socialism is a dirty word because the second you admit to having any socialist sympathies (even within a basic framework of capitalism) the likes of the ratings agencies and ‘global finance’ (whatever the hell that is) will stick the boot in. This is because they are inherently interested in keeping the rich in clover, whether the rest do OK or not is beside the point to them. Strange really, because I don’t remember electing Moodys or Standard & Poors to run the economy of this country.
What I think we need is a departure from this arse-about-face relationship. I would like a party (of whatever stripe) to try to form some sort of international agreement to tell these ratings agencies to get stuffed. If you managed to get some kind of momentum behind something like this the agencies would become less relevant as they only succeed by playing countries off against each other – replace the competition with consensus and we could be on to something…..
Also, I believe the Labour Party is a victim of historical misfortune. After the poll tax, being in hoc to the Ulster Unionists in the commons, recession and sleaze, it was a slam-dunk that Labour would win the 97 election. If John Smith (RIP) hadn’t died at the time he did, we would still have a more traditionally socialist Labour Party that would have ridden the wave of economic boom in the late 90’s and early noughties anyway – it would be in more traditional shape today whatever. The arch hypocrite Blair didn’t have to sell all of Labour’s principles down the river to be elected, but he did anyway!
Now you have the bizarre situation where Ed Milliband (an empty suit IMO) cannot even espouse the most watered down Labour ideals without being called ‘Red Ed’ and Labour has surrendered some of the socialist high ground to a nutter like Galloway (at least in the eyes of some sections of the populace who aren’t clever enough to realise what he is).
We would also not have had to put up with all the side-issues associated with Blair trying to carve a legacy for himself as an international statesman – let’s face it, he could just have happily been a Tory PM – it wasn’t about conviction for him, just about narcissism.