For the most part, capital in offshore centres is invested, fetching rates of return far in excess of the value that most government expenditure can generate.
Corbyn surely knows that Chavista populism isn’t the only alternative to a traditionalist, oligarchic right.
There is a Labour tradition of defending brutal dictatorships.
It shows the horror that many feel at the possibility of anti-semites, economic knuckledraggers and hatemongers trolling the whole country in government.
Deep down, Corbyn regrets the outcome of the Cold War. Even now, when the full horror of its legacy is clear, he can’t bring himself to renounce Marxism.
Labour is the Party of the queue. Do you want to send your daughter to the best local school? Tough. Do you want a new home for your family? Tough.
His biggest advantage has been his rivals’ failure to argue against the substance of his platform.