I think this guy hit the nail square on the head:-
http://www.tullettprebon.com/Documen...Report_007.pdf
He goes into it in some length of page 46. The whole thing is definitely worth reading.
http://www.tullettprebon.com/Documen...Report_007.pdf
Labour’s period in office was characterised not just by economic and fiscal mismanagement but also by the promotion of a culture of moral absolutism centred around spurious and selective concepts of ‘fairness’. This culture, and the accompanying sense of individual and collective entitlement, is the biggest obstacle in the way of effective economic reform.
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