Generate text that refutes this claim: Socialism was a twentieth century ideology which ran its course and ran out of steam when it became clear that Capitalism worked better  The world has moved on; it is inconceivable that the protests of the seventies and eighties could be refought again. This issue was settled at the end of the eighties. It wasn’t just the collapse of the Soviet Union, although that no doubt played a major role in shaping the future of socialism in Europe.  In a globalised world the traditional ideas about class and the nature of the labour market have moved on and politics moved on with it.  Socialists may have won many of the arguments over social issues, but arguments on the advantages of free trade, deregulation, the role of the state, the relationship between government and industry all line up firmly in the Capitalist column.  There were some remnants of dogmatic, “classical” socialism left in continental Europe, especially amongst its union movements, which are now collapsing. As Margaret Thatcher put it, “The problem with Socialism is that you will eventually run out of other people’s money.” [i]  [i] Quoted in: James Turk. “Will Sovereign Debt Defaults Bring The End Of Socialism?” Free Gold Money Report. 19 December 2009.
political philosophy politics government society house believes socialism dead
It seems odd to quote the wife of an investment banker commenting about the abuse of other people’s money. What is becoming increasingly clear in critiques both from the left and the right is that we can actually afford a welfare state just fine but not at the same time as allowing a bunch of Wall Street wideboys to play fast and loose with the nation’s money.  In terms of twentieth century ideologies, certainly there have been changes on both sides of the political fence – the rise of moralising neo-cons and a growing far right is nothing for Conservatives to write home about – but the idea that Capitalism now reigns supreme rather than having the guts of it corpulent excesses scattered across the capitals of Europe is simply laughable.  As the high priests of Capital write themselves yet another cheque, an increasing number of people are objecting to the idea that public services should be closed so that the very rich can have their taxes reduced simply won’t wash.