The above question is currently being debated on the Web-Site run by Independent Labour Publications (ILP).
To follow and join in the debate, you can use this link.
That takes you to an article which I have contributed. But at the close of my contribution, you will also find a series of key links to items by others who generally take differing lines to myself.
We can only advance our own understandings by entering into genuine debates with others. As the Labour Party is seeking to move its ground from New Labour to One Nation Labour, how should democratic socialists respond? With enthusiasm, opposition or in our own third way?