page_title: Socialist Appeal (UK, 1992)
section_title: Economy
hierarchical_section_title: Socialist Appeal (UK, 1992) / Economy
caption_attribution_description: alan woods con hugo chavez
context_page_description: Socialist Appeal is the newspaper of the British section of the International Marxist Tendency, and also the name used by a group of members and supporters of the Labour Party who organise around the paper.
  It was founded by supporters of Ted Grant and Alan Woods after they were expelled from the Militant group in the early 1990s.
  Socialist Appeal is published fortnightly and describes its politics as descending from Karl Marx, Friedrich Engels, Vladimir Lenin and Leon Trotsky.
context_section_description: Socialist Appeal is in broad agreement with the classical Marxist view that capitalism inherently results in "boom and bust" cycles as a result of overproduction and thus attempts to prevent this through monetarism or Keynesianism are not possible. Therefore, they believe the only solution to this is the introduction of democratic socialism, based on a planned and nationalised economy as well as on the socialisation of its "commanding heights" (i.e. the top 150–200 financial institutions and companies). They argue that a planned economy is able to replace production on the basis of profit with production on the basis of need.
caption: Leading theoretician of the International Marxist Tendency Alan Woods in a meeting with Venezuelan president Hugo Chávez
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