In 1946 the leaders of the Fourth International were predicting imminent revolutonary upheavals, when in reality capitalism was entering the biggest boom in its history. The leadership of the British Trotskyists, in particular Ted Grant, tried to convince the International that their perspective was false. History has proven Ted to be right. No one can doubt it, and we are proud to continue the tradition that he laid down of serious, meticulous analysis of the real processes taking place in society.