Welfare Keynesianism

The Left have continued to sidestep certain issues of production. Whilst the Right have been preoccupied with markets, the Left -- suspicious of Japan and the new managerialism -- have focused on the traditional planks of social democratic economic policy: redistribution, social ownership and Keynesian macro-regulation. This has failed to address the changes in production, let alone globalization, so that socialist governments have too often been forced into a softer version of neo-liberalism (liberal productivism).