This chapter examines the three core elements of institutions, ideas, individuals to offer a view as to why the British Labour Party is losing. Arguably, the 2008 global financial crisis marks a new cycle for Labour's identity. It is worth reflecting that while Labour is currently losing, until the advent of New Labour, this is not a particularly new phenomenon. British Labour's post-war electoral record is patchy at best. One interpretation might be to understand Labour's electoral appeal by borrowing a concept from public policy. Labour's appeal might be to establish crucial public institutions and goods, and then be ejected from office. Relatedly, a key factor in explaining why Labour is losing, and might continue to lose, is the conservative impulse of the party.