The above-titled article by Victor Davis Hanson in NRO is well worth a read, in that it applies far more forcefully to the British world-view than to the American.
Do we really need a new term to describe socialism? "From each according to his ability, to each according to his needs!" wrote Marx in 1875, in the classic definition of militant mediocrity.
Hanson argues that we do. The definition of "need" now extends to feeling good about yourself no matter how unproductive you are, with the concomitant that the productive and the provident deserve to be dragged down because they are "judgmental" of the idle and feckless, by example if not by word .