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Where Corbynism goes beyond simply tax and spend is in proposing a class consensus for new, new times. Accompanying its plans for fiscal stimulus, Labour seeks democratically to ‘re‐embed’ non‐market forces (workers, consumers and public values—especially green ones) in the reproduction of social life: reversing privatisations, ending the private finance initiative (PFI), curbing the NHS’s internal market and restoring workers’ rights. There is not a drop of evidence, however, that Corbyn’s party seeks to erase private ownership, competition or the profit motive. The original wording of Clause IV of Labour’s constitution—‘to secure for the workers … the means of production, distribution and exchange’—has not been resurrected. In this regard, the movement is more post‐neoliberal than radical.

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