Old Labour’s international solidarity did not require the abandonment of the national democratic inheritance. But today’s left-liberals simply do not… - Maurice Glasman, Baron Glasman

Unless there is a decentralisation of power, in the financial markets and in politics, then there can be no negotiations that can transform the present system of domination. Domination by the rich of the poor, by the educated of the uneducated, by the City of the country. Perhaps a simpler but more controversial way of putting it is that the German economy, with workers on the boards, regional banks, vocational labour market entry and co-determined pension funds has proved to be more capable of producing goods than ours. Their system is based upon subsidiarity and vocation, the cornerstones of the Christian inheritance. Secular modernity is not working. It is inappropriate for our times. Here’s a new paradox: Modernity is out of date.

The institutional settlement of post-war West Germany has endured because it generated value. They retained pre-modern artisan organisations and turned them into the foundation of their contemporary economic success. They entangled and constrained capital in a myriad form of national, sectoral and localised arrangements and they emerge from the crash, virtually alone, with a productive economy and a functioning democracy, with greater equality than us and more meaningful work.

We believe that capitalism, and unfettered capitalism poses a threat to human existence through the commodification of the person and nature. And we believe in defending people and nature through democratic association, and confronting and constraining the domination of capital through building a balance of interests in corporate governance and public sector. We take on, we’ve taken on the banks in the city of London. That’s who we are.