English: British politician Ed Miliband, Leade...

English: British politician Ed Miliband, Leader of the Labour Party (2010–) Deutsch: Der britische Politiker Ed Miliband, Vorsitzender der Labour Party (2010–) (Photo credit: Wikipedia)

I know making facile historical comparisons is pointless but…

Not only had Labour followed a line which increased rather than alleviated the crisis, but even after the breakdown of the Government the party was unable to understand what had happened. Labour propagandists were inclined to look upon the financial crisis as an isolated economic phenomenon rather than as the outcome of a mistaken economic and financial policy pursued by various Governments since the end of the war. The Labour people blamed the bankers of England, America, and France, whom they accused of having conspired against labour and unemployment insurance. But although American bankers may perhaps have been inclined to stave off the “danger” of America’s following Britain’s lead and introducing the “dole” in the United States, few British Labour people asked themselves how the bankers could so easily achieve their ends against a Labour government. Also, Labour directed bitter attacks against its former leaders, MacDonald, Snowden, and Thomas, whom the party openly branded as traitors, yet the Labour party still failed to point out an alternative policy.”

That’s by Adolf Sturmthal, writing in 1942 about the events of 1931.

Do with it what you will…

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