You were the first one...
Globalisation killed Soviet -type socialism because the system as it was could not benefit from the international division of labour. It insulated producers and consumers from international prices, due to the state monopoly of foreign trade conducted by large Foreign Trade Organisations implementing government plans, with a domestic currency which was not convertible into goods internally, as a result of shortages and queues, let alone into a foreign currency. This led to extreme inefficiency. By the 1980s Japan was buying Soviet machinery for scrap, between a fourth and a fifth of manufacturing output in Poland, Hungary and Czechoslovakia had negative value added at international prices. Production actually destroyed GDP. Either the system had to be radically reformed, or was doomed to collapse. For unwillingness to let repressed inflation surface into open inflation, and for the even greater fear that reform would reduce party grip on power it was not reformed enough. It collapsed, leading to the restoration of capitalism and its global connections.
You were the last one...
Forms of socialism (and non-socialist statism) under social democratic regimes, whether left or right leaning, were killed by globalisation in a different way. Through competition from cheaper labour - whether from immigration, the delocalisation of production and employment to emerging countries, or by foreign trade; and by cheaper welfare systems, and lower labour -employment -protection competition, by social dumping as well as environmental dumping, between countries seeking to attract internationally mobile capital. There was competition to offer an environment friendlier to business, through lower taxes, tax evasion and avoidance by multinational corporations, and through the monetary and fiscal constraints required for a stable exchange rate in the global economy.
.. Rewritten by machine and new technology,
and now we understand the problems you can see.
But the Labour and its statist zealots cannot or will not see.
.. We hear the playback and it seems so long ago.
And you remember how the jingles used to go...
Brown and the zombies still sing the jingles - fraternal solidarity, redistribution, state investment, planned growth... But what we have is a corrupt administration sustaining itself in power by animating a corpse.
3 hours ago