Is communism the way forward? Where did that come from Day 6? I don't think I have ever seen anyone suggest it.
When Jeremy Corbyn said "There is a new common sense emerging about how the country should be run, and that's what's needed to replace the broken model forged by Margaret Thatcher many years ago." I don't think anyone other than those on the far-right of economics thought he was talking about Communism.
There is free-market capitalism and mixed economy capitalism (or Social Democracy) and the free-marketers have shot themselves in the foot with their greed.
Free-market capitalism is not detached from all that goes on any more than a mixed economy; it sits along side the investments and the institutions that government controls just a mixed economy does. The Tories love to blame state ownership for the problems they had but it is well recognised that it was actually poor economic management that brought in the IMF, etc.
At the beginning of the Thatcher era some of the sales of state owned enterprises were done with a consensus of approval particularly as the state continued to control the NHS and pensions - areas which always seem to have had a majority in favour of state ownership. What did change was the role of the state in housebuilding - which has come back to bite us and the selling off of natural monopolies such as water, electricity, etc., again not popular with the majority it seems. It is clear that you did need state intervention in these at least to regulate them but regulation is a dirty word to the free-market economist.
The global recession and the crisis that went with it had a deep affect on the economy and showed up many of the cracks in free-market economics. It was, after all, just that form of economics which had caused the problems. The problem with the most recent times - all while the Tories and their free-market capitalism were being inflicted on us - is that we have not seen the normal growth that would come after a recession.
We now have household incomes that are barely above the level of 2008 and incomes which are below that of 2008 - something we have not seen before. The Bank of England has said this may have been the worst decade for earnings (comparatively) since the 1750s.
Things did look as if they might be getting better in 2015/16 but over the last year or so we have slightly gone into reverse again. Inflation has been rising and wages haven't been. Younger people have done really very, very badly where wealth, pensions, housing and earnings are concerned,relative to those of older people meaning that, for the very first time in many, many decades we are looking at children being worse of than their parents.
Through the 1950s, 60s and 70s we were the sick man of Europe - through the next 30 years, coinciding with our membership of the EU we did relatively well. Over the last 7 or 8 years we have been doing worse than the 60s and 70s and worse than it has been in most other countries since the recession.
Not unreasonable then, Day 6, to look at the type of capitalism that brought about the 2008 financial crisis and has kept us poor since.
(Ref: most of this thanks to a BBC programme I listened to the other day)