Moorcock probably had a bad enough time at school without bringing pooh into the equation. Anyhow...
I think it's important to distinguish between stewardship of the countryside, which is in theory fine, and stewardship of the people (because they can't be trusted to rule themselves), which is less fine. Certainly in the past landowners and tories haven't distinguished very much.
Moorcock, in Epic Pooh, does rather reinforce the idea that country = right wing, town = left wing, which I think is a bit false. Personally I think it is possible to see Tolkien's nostalgia for the countryside, which is fair enough if a bit mushy at times, seperately from his political views. That said, the problem for me is that it's all very well wishing that life was simpler and we had less machines, but apart from the broke (who would really like more machines) and a few enthusiasts, who would give them up? Having stated that the mechanisms of Sauron are Pure Evil, Tolkien doesn't say what should be done with them. Can they be dispelled, like a curse?
(Epic Pooh is here, by the way: http://www.revolutionsf.com/article.php?id=953