In the autumn of 1972 rising profits together with record unemployment figures, revealed the parasitic character of the British ruling class. With wages increasingly undermined by rising prices Ted Grant pointed out that the pressure from the workers to resist against this erosion was resulting in sharper class struggle. The bosses were not keen on concessions in spite of rising profits because “…profit is the unpaid labour of the working class. If the share of the workers is cut the share of the capitalists rises.”

In 1972 the Stalinist regime in Czechoslovakia arrested two dissidents. The British Communist Party was forced to “protest” against these actions but made no attempt to analyse why crackdowns on dissent continued to happen under “socialism”. Ted Grant explained that repression under the Stalinist regimes was to defend the privileges of the bureaucracy.

In 1971 in Britain, unemployment soared as a consequence of the world crisis. Ted Grant looked at the proposals that left and right-wing Labour leaders advanced and exposed the inability of both to come up with a viable and socialist alternative to the crisis.

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