You may as socialists have looked at headlines in disgust at 20% bonuses.

Well you shouldn't.

I take a Tom Millerish view on nationalisation. Obviously, I prefer nationalisation to privatisation, but my worry is threefold:

1) Does nationalisation benefit the workers?
2) Does nationalisation benefit the consumer?
3) Does nationalisation deliver a better public service?

If there is one goal of the Left that wasn't fulfilled in Britain in any real way, it is industrial democracy.

I personally believe it would've neutralised the power of the unions better than Thatcher's union reforms.

But the unions are in trouble. The genuine fighters, the Prentises, the Barbers etc., are undermined by figures unrepresentitive of broadly social democratic unions: the Gilchrists, the Crows etc.

Industrial democracy would probably see union membership soar. Hopefully to Scandanavian levels.

But how could we do it? Do we encourage co-operatives? Do we go for German style co-determination?

I've heard an excellent solution by Proudofvotinglabour. Currently, inflation is being driven up in part by our obsciance to the boardrooms. Shell and other companies are being stunned by the shareholders revolts. Patricia Hewitt, who was greatly overcriticised even though I think she was a very good minister, especially after inheriting NHS defecits, considered a couple of years ago giving rights to the shareholders to vote down boardroom pay packages.

The pay packages are money from the shareholders. It isn't good for inequality or inflation. But there could be a way of making shareholders rights, valid to all. The suggestion was to legislate so that all employees of a company own company shares.

This could be a great way of increasing the measly union membership in the private sector. However, we should find a way of increasing industrial democracy in the public sector as well.

But how do YOU think we should introduce industrial democracy?