Within 30 months of its third electoral defeat in a row, the Labour Party had undergone one of the biggest policy rethinks ever undertaken by a major political party. This book aims to be an objective account of this transformation, looking at the change from a unilateralist defence policy, and the revolution in its organization and its policy vis-a-vis the Trade Unions. The book examines the implications, permanence and significance of these dramatic changes and examines the party which might well form the next government.