The problem with this analysis is that Blair, Brown and Mandelson did get and stay in power and we all saw what happened - huge bonuses, huge profits, huge amounts of tax avoidance and eventually a huge collapse.
I absolutely agree that we should be trying to base any solution on the needs and circumstances of today, though at some point people, especially those from what they think is the centre, should really be asking themselves whether the people making the vast amounts of money - who are actively avoiding tax and who are funding the vast majority of the politicians in the UK - are really the people that they want to trust that they'll tone it down a bit in return for them continuing to be "successful". Why would anyone expect people who are raking it in, who are clearly in charge and who are enjoying life immensely to change their ways?
This in itself indicates a somewhat naive, almost reflex belief that a very large number of people have that the way things are now is how they should be, how it always has been and anyone who wants to change it (even clearly in their interest) is somehow dangerous.
I mean take this motion for example, which will probably end up as one of a long list of popcorn motions passed by a Labour Conference down the years. It will probably affect no poster here in the slightest (even if it comes into being), and yet the venom that has poured forth at the suggestion that private schools might lose their status has filled three or four pages of posts, often with other posts by the same people who are outraged admitting that there is a problem with the gap between rich and poor in this country.