In dusty rooms of universities, professors spend hours of their working day studying the meaning of words, where the words come from, how their meaning has changed. It is an interesting, if largely pointless exercise. At times it even has its Take the word 'socialism'. The crisis of Labour's economy is, we are told by the Tories, a crisis of "socialism'. Now even the most politically naive must find some problems in equating mass unemployment, wage-cuts, the destruction of the social services, racist immigration policies and all the rest with 'socialism'.
And was it not the right-wing journal The Economist, which said recently the Denis Healey is the best conservative chancellor we have had. Words, it may appear, are losing their meaning as fast as the pound is losing its value. learned socialism' the Tories are merely indulging in a little bit of political name-calling. The Economist is right - Healey is the best 'conservative. And conservative, to get down to basics, means capitalist. even further down to basics, the crisis is a crisis of capitalism.
The major headline grabber has been the decline of the pound. On Monday last week, sterling dropped seven cents beause the previous day the Sunday stated that the International Monetary Fund desires such a drop. It then railied when the IMF denied the story but dropped further on Wednesday after NEC had voted to back the 17 November demonstration against Labour'scuts.
Finally [or not so finally] if again rose a little towards the end of the week, thanks to another media story loan was being negotiated for the ailine