- Favoured an economy where the entire means of production are owned by the state for the benefit of all
- Capitalism must be rejected in favour of proper socialism
Luxemburg - E (S)
- Capitalism must be overthrown and control of the economy handed over to the workers
- Viewed capitalism as a transitory phase
- Understanding of economics would become a 'weapon in the revolutionary class struggle waged for the emancipation of the proletariat
Webb - E (S)
- Believed the inefficient and chaotic capitalist economy would gradually and peacefully be replaced by one where the state owned most of industry
- State could then distribute the surplus into public services for all and by paying higher wages
Crosland - E (S)
- Preferred a mixed economy with limited state ownership
- Keynesian economics would generate sufficient taxed profits to enable higher public spending necessary to achieve greater equality
Giddens - E (S)
- Valued a neo-liberal economy with high levels of deregulation and private ownership that would be efficient and profitable enough to generate high tax revenues
- Would finance a huge growth in public spending to ensure greater equality of opportunity
