This work reformulates the theory and practice of socialism in the view of the transformation of society over the past 60 years. Robert Corfe aims to fulfill the hopes of those who feel that the Labour party, and socialism worldwide, has lost its way and is in need of a philosophy to point the way ahead. The book also sets about the task of creating a socialist business philosophy constructed within the guiding framework of socialist business values. This raises the question: is it necessary for socialism to adopt a pro-active approach to business in the light of those conflicting doctrines of the past? Is it possible for socialism to be pro-business in a genuine sense without compromising its integrity? How can socialism promote business in the shadow of its long struggle against the abuses of capitalism? In response, Corfe argues that if the left fails to seize the initiative in advancing those forces for social wealth creation and prosperity, then socialism will consign itself to oblivion. Historically, socialist governments in both industrialized and Third World economies have always fallen following their failure to maintain communal prosperity and successful business.
Here, Corfe writes about the missing "gene" of socialism - its antipathy to business - and the attitudes which are needed to build a pro-business ethos within a socialist value system. The complexity of contemporary capitalism is then dissected. The traditional stance of the left that all forms of capitalism are synonymous and should therefore be equally opposed is shown to prevent an understanding of economic reality. When contemporary capitalism is examined closely as a living force it is found to have both benign and malign characteristics. From such a study, Corfe constructs a self-regulating capitalism, monitored under a dirigiste authority which disseminates wealth and power in benefiting majority populations everywhere and may be identified with the original aims of socialist thinking. Whilst the book shows that old-style class war would undermine the foundations of new socialism in repulsing the majority, its central concern is the extension of people power into all spheres of life and work.