This paper attempts to outline the economic steps that would be necessary to convert a capitalist economy like the EU into a socialist one. We examine the issue in very concrete terms and propose specific policy measures. The measures we propose differ significantly from the tradition of 20th century European Social Democracy. Keynes famously remarked that practical political men, whether they be cautious or bold, found themselves unconsciously repeating the ideas of long dead economists. Politicians who advance neo-liberalism are, whether they know it or not, repeating the ideas of the reactionary Austrian economists Mises and Hayek. Socialist politicians purvey, in simplified form, the ideas of long dead Germanic Social Democratic economists such as Kautsky, Bernstein and Bauer.
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