State fiscal restriction functions as upward wealth redistribution

Evidence

The first conjuncture that framed our analysis is the welfare state/social-democratic political “settlement” or “historic compromise” that emerged at the end of World War II with Labour’s accession to power. Its mandate was to ensure full (male) employment, avert economic crises through Keynesian measures, redistribute wealth, take the “commanding heights” of the private economy into public ownership, and create national health and social security systems. This was a major moment in the redistribution of wealth and power in British society. — Hall, Stuart, Essential Essays, Volume 1, 1059 (#complicates, via linked claim)

Categorization

• XREF: connects to: Regressive taxation and spending cuts serve the same class-confiscating function — Clara E. Mattei, Escape from Capitalism, 150; Asset distribution drives wealth inequality and social stratification. — Paul Langley, Assets and Assetization in…, 8; The gold standard institutionally blocked redistributive fiscal and credit policies — Clara E. Mattei, The Capital Order: How Economists…, 102 (+5 more)

Broader Connections

• Postwar Labour settlement redistributed wealth via Keynesian economic measures #complicates (0.72) — Hall, Stuart, Essential Essays, Volume 1, 1059