This reads like it was written this morning (comes from 1913):
A general election recently took place in Australia. The Labour Party, which had a majority in the Lower House—44 seats out of 75—was defeated. It now has only 36 seats out of 75. The majority has passed to the Liberals, but this majority is a very unstable one, because 30 of the 36 seats in the Upper House are held by Labour.
What sort of peculiar capitalist country is this, in which the workers’ representatives, predominate in the Upper house and, till recently, did so in the Lower House as well, and yet the capitalist system is in no danger? …
The Australian Labour Party does not even call itself a socialist party. Actually it is a liberal-bourgeois party, while the so-called Liberals in Australia are really Conservatives …
The leaders of the Australian Labour Party are trade union officials, everywhere the most moderate and ‘capital serving’ element, and in Australia, altogether peaceable, purely liberal.
Lenin, Collected Works, vol. 19, pp. 216-17.
Or, as I like to put it: we live in a one-party state, ruled by the pro-capitalist party. From time to time a different faction gains power, euphemistically called ‘Labor’ or ‘Liberal’ (centre-right or far right), but the only matter on which they differ is how best to foster capitalism.