Understanding the Left’s Defeat in Britain

FEATURING RICHARD WOLFF – Britain’s highly anticipated general election on Thursday resulted in a massive victory for the Tories, who captured well over the majority they needed in Parliament to push through the Brexit deal they want. The Labor Party, which had taken a nuanced approach to Brexit won just over 200 seats out of 650 leading Party leader Jeremy Corbyn to announce he is stepping down. Just days ago leftist analysts were predicting a progressive landslide with Corbyn’s promises of protecting healthcare and expanding social services. What happened?

Richard Wolff, visiting professor at the New School University, New York and professor of economics emeritus at the University of Massachusetts, Amherst, author of a number of books including ‘Democracy at Work: A Cure for Capitalism’, ‘Occupy the Economy: Challenging Capitalism’, ‘Imagine: Living in a Socialist USA’, ‘Capitalism’s Crisis Deepens: Essays on the Global Economic Meltdown,’ and ‘Understanding Marxism.’ He also hosts Economic Update. His new book is called ‘Understanding Socialism.’