Re: Several thoughts
To many things missing from that.
There's the Peter Principle
A class system that emphasises knowing (or being) the "right people" over meritocracy*
And above all, the products of the above making bloody sure that no one more competent than themselves gets a chance to be in charge or, God forbid, change things.
*A bit of research into the background and career of Toby Young will tell you all you need to know (not Wikipaedia - which says almost nothing). This will do as a starting point- though I'm no lover of the Guardian.