International: Retrenchment

Britain's Labor statesmen faced a challenge, too. It was perhaps the most serious challenge since they began, four years ago, to transform Britain into a Socialist state. The question was: Could a nation which stood on the verge of bankruptcy afford Socialism?

No fair and reasonable observer can blame the British Socialists for causing their country's economic crisis. But they can be blamed for aggravating it. London's Economist, while reiterating its opinion that the crisis is "an expression of volcanic upheavals in the economy of the whole world" (see below), last week wrote:

". . . The doctrines of the Left, with their...

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