A Break from the Past: The Labor Party and the Political Economy of Keynesia Social Democracy.

Arguments about the nature of the Australian Labor Party have been somewhat revived over the past few years. Those who argue that there has been a fundamental break with Labor tradition are criticised from both the right of the labour movement and the Marxist left. Both, interestingly, argue that to see the Hawke-Keating years as too distinct is to misread history. Both schools of thought argue that those who defend a Labor tradition which is fundamentally different from contemporary Labor are glorifying the past. This paper gives an account of Keynesian social democracy, and employs a comparative case study of economic debate in the 1940s and 1980s, in order to argue that there has indeed been a fundamental change in Labor's approach to political economy. [ABSTRACT FROM AUTHOR]