Wither a Left Wing ?

It is most remarkable that while the beast with two backs that is otherwise known as Capitalism or by its familiar amorphous name ' the market ' is in its mindless, moral - free , endless pursuit of profit is busy destabilising countries and imposing punitive terms and austerity measures upon citizens of nominally self - governing populaces, there is virtually no sign of a credible political movement that is challenging its vicious and unjustified orthodoxies. In this country the once left of centre party, the Labour Party, is now so centrist that it has arguably flipped to be to the right of the Conservative led coalition. Witness their current leadership contest : the one distinctly left wing contender, Mr Cruddas, decided not to run, presumably because he knew he would be unsupported, the two other identified as lefties, Mr McDonnell, of whom it would seem accurate, and Ms Abbott, of whom it would seem a historic association rather than anything more substantial, have precisely no nominations as I write.
Meanwhile people such as John Redwood are already feeling confident enough to make speeches in the House arguing for the plight of what he calls ' the inactive entrepreneurs ' read idle rich, and how reducing taxes will encourage them to put some of their ill-gotten gains, sorry, cleverly acquired sums made by brilliant business decisions, back into the economy and create jobs.
It would be laughable if it was not so serious. Having allowed the unfettered free market to operate to its own, non-existent laws for so long and test the Capitalist Anglo - American lassiez faire model to destruction, these apologists with their bamboozling and self-justifying use of terms using the mystique of big numbers, that veneer of expert knowledge and insight into how the market works , are being allowed to spout the same narrow, abject, hermetic, nonsense and are not being challenged. This is because there has been an almost complete evaporation of anything resembling a coherent critique of this view of the fundamentals of how things are organised, which used to be at least attempted by what was once called the left wing.

It is as if the whole creaking edifice is a fixed given, that it has to maintained, propped up, and religiously believed in. But it is a mechanisim, it is run by humans, it is nominaly organised and controlled by secular organisations subject to Laws. It can therefore be changed.
One of the few people I have heard say anything which re-evaluates and challenges in a perfectly reasonable way the orthodoxy of the market was not from the astonishingly unimaginative and craven grouping of politicians we still have in the UK. The German ambassador, who was given little credence, on Newsnight said that his country's Government were going to put the well being of their citizens and their country before that of the financial institutions and the practices of the market. He represents a scarcely radical Christian Democrat Government of Angela Merkel. Here, as soon as the one slightly loose cannon Vince Cable has got into a position of power, he has dropped into line so as not to 'upset' the market, after one conversation with the Governor of the Bank of England.
And by the way, can anyone explain to me why a North Korean ship being sunk by a South Korean ship, or was it the other way around, has any bearing whatsoever upon the share or money markets ? If this is what our economic future is predicated upon then God help us.