Ted Grant

So if you think about it, like, in a very short space of time, what they did was abolish capitalism, even though they had no initial intention of doing so.

Yeah, and, and Ted, and Ted Grant, um, who is, like, one of the great Marxist theoreticians, explained at the time what in, in effect was occurring, and, and as you said, it was...

It may have been occurring in an empirical way, but it was nonetheless occurring, was Trotsky's theory of permanent revolution was being played out.

But in a caricatured form, in the sense that you didn't actually have a conscious working class communist party leading the conscious working class, uh, establishing, um, a healthy worker state, and then finish, you know, finishing the, the national democratic task, and then starting to move on to socialist tasks.

But all of this came at a cost because, yeah, this Keynesian consensus, it was a factor.

Ted Grant explains it in his excellent article on will there be a slump, which we've got in the latest paper.

He explained that was a factor amongst many in the unprecedented economic upswing of the post-war boom.

But it also led to growing contradictions for capitalism globally.