Peter Kennedy

Theories of Thatcherism and Capitalist Decay - Peter Kennedy

'Fordism/Post-Fordism' cannot be used to understand Thatcherism. Marxism must come to terms with 'Labourism' which itself emerges out of a decaying form of capitalism and which extends capitalism's life beyond its years. The emergence of 'Thatcherism' served only to escalate capitalism's decay and so bring closer the day when workers must take democratic power into their own hands and conscious regulation of social labour becomes a political necessity.