The 50 Years Ago column from the December 1996 issue of the Socialist Standard
On the home front the Labour Party is in wholesale—though, as yet, not fully recognised—retreat. As long as the Labour Party has been in existence its most prominent propagandists have given lip-service to the Socialist condemnation of the capitalist system for its “profit motive”. Now a changed line has been announced without any attempt being made first to get it endorsed by the members of the Labour Party. This line was defined by Mr. Herbert Morrison in a speech at Birmingham, reported in the Daily Herald (October 28th, 1946). “There is no need,” he said, “to abolish the profit motive,” all that is required is to rid it of abuses. Three days later the Daily Herald told its readers that one of the reasons for the Labour Government’s drive for increased production and the most economical use of labour was that these are essential “to preserve the real value of both wages and profits” (Daily Herald, 31/10/46). Many Labour voters will be astonished to learn that one of the objects of their Party is to “preserve the real value of profits.” Some may ask themselves, too, how the present policy of discouraging wage increased fits in with the pre-election promises and with the increase of M.P.s’ salaries from £600 to £ 1,000 a year in April last.
(From editorial in Socialist Standard, December 1946)
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