WI the developed world turned left-wing instead of right-wing in the 1980's?
What I am thinking of instead of the broadly bi-partisan shift in most nations over this time frame towards more right-wing policies, what if the shift was towards more left-wing policies? As I have heard it put, what if the 'forward march of labour' had continued?
In the 1970's of course it was clear to most in the West that the post-war consensus was no longer working and had at the very least encountered serious problems. However at the time, it must be remembered that there were almost as many commentators who believe that the solution was more government intervention and spending. In other words rather than a move from social democracy/New Deal liberalism towards free market neo-liberalism, a move towards democratic socialism was predicted (at least in Europe, I can never see this happening in the USA).
What POD would be required for this to happen? How would the world be different now?
I think to have this occur we definitely need to avoid or at least reduce the presence of neo-liberal economists in the IMF and World Bank from the 1960's onwards, when they start to gain influence again. By the 1970's, the world economy had globalised to the extent that in order for this ATL to be successful the leftward shift must be international rather than just national.
I have said the developed world for this ATL, as obviously developing nations have quite different issues. However how would the poorer nations develop under this ATL? It could be positive as the IMF and World Bank would most likely adopt more generous approaches to assisting these nations. On the other hand, a more left-wing developed world is also more likely (though not necessarily so) to put in place capital controls, etc, preventing capital flowing to poorer nations?