Where the Right went wrong in one sentence or less:

The problem as I see it is that having started with an idea that seemed plausable in the Eighties concerning competitition and markets and efficiency, instead of testing that idea and checking where it made sense and where it didn't, they instead proclaimed it as an article of faith, and now that it's slammed against the wall of reality they refuse to consider that perhaps they've failed to correctly identify the problem that their solutions are supposed to solve.