Socialism in the 21st Century?

I saw this interesting snipped from Ken Livingston (the Mayor of London) in an interview in The Guardian:

"All the politics of the post-war period was about the clash between the Soviet Union and America, and virtually all issues ended up being subordinated to that. ... Now, the question is, what is the most a socialist can achieve in a global economy? What do we do about climate change bearing down upon us?

"In a sense, it brings us back to the basic socialist tenets. The only way you get through this is by sharing and planning, resource redistribution, allocating priorities - the market isn't going to get us out of this. The market is a brilliant system for the exchange of goods and services, but it doesn't protect the environment unless it's regulated, it doesn't train your workforce unless it's regulated, and it doesn't give you the long-term investment you want."

I've been wondering about the usefullness of the Left post-Blair-and-Clinton; this is one quite succinct description of how it's role might develop.