Peter Turchin explains the social-economic roots of UK and US crisis by violation of the existing social contract by rise of neoliberalism. This is pretty much what happened... but it's only half of the picture.
http://peterturchin.com/cliodynamica/the-structural-demographic-roots-of-the-uk-crisis/
Union privileges were widely described in media back in 70's.
Situations where no builder can legally touch any part of the electric installation (including power switch), or do painting, or plumbing or whatever, because these were reserved only to members of respective unions, were absurd and abusive to the other workers.
Unions were also getting involved into foreign policy: in 1920 British dockers prevented UK shipping arms to Poland invaded by Bolshevik because they liked the latter.
