Thatcherism, by Kim, Changhyun, Oct 2005


Definition of Thatcherism


"Thatcherism" is a system of political thought based on the policies of the former Conservative prime minister of the United Kingdom, Margaret Thatcher.
The broad definition of Thatcherism would encompass her social, diplomatic, and economic doctrines. The narrower definition focuses on the economic policies of Thatcher. The narrower definition will be used for this paper.
During her premiership from 1979 to 1990, Thatcher fought the power of trade unions, cut direct taxes, and privatized numerous nationalized industries. Her policies aimed at transforming the British economy to a more market oriented economy. She emphasized the need for less government intervention in the economy. She stressed the importance of enterprise culture, the culture of taking risks, investing, and wealth maximizing.
She claimed to have been influenced by the works of F.A. Hayek. His The Road to Serfdom condemned intervention of the government in the economy, arguing that it encourages authoritarianism. Sir Keith Joseph, whose Centre for Policy Studies suggested policy positions that was pro free-market economics, also heavily influenced Thatcherism.

Kim, Changhyun
October 2005


EXTERNAL
FILES
Winter of Discontent, from Wikipedia
Thatcherism, from Wikipedia
National Enterprise Board, from Wikipedia
Margaret Thatcher, from Wikipedia
United Kingdom General Election 1979, from Wikipedia
Thatcherism 1979-91, from BBC England Timeline
Thatcherism 1979-90, from BBC British Timeline
The "British Disease", from BBC British Timeline
Thatcherism, from Economy Professor
Margaret Thatcher, from PBS
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