Maybe a good time to revisit my thoughts from a while ago. I do hope that people start to realise the damage she did.

hughdbryant

There are several key features of Thatcherism. They include the following.

Doctrinaire adherence to monetarist economic theory:
A belief that ‘public’ is bad, and ‘private’ is good:
A belief that ‘there is no such thing as society’:
Military adventurism.

Monetarism

When the Conservative Party led by Margaret Thatcher won the 1979 election, it followed a time of economic crisis – a loan from the International Monetary Fund in 1976, devaluation of the pound and interest rates around 15%. The ‘winter of discontent’ of 1978/9 saw the worst industrial unrest in Britain since the General Strike of 1926.

Thatcher decided that a particular economic theory, ‘monetarism’, propounded by Friedrich Hayek, Milton Friedman and Alan Walters, was the only possible solution. It was ‘supply side’ regulation. If the amount of money was reduced, prices (and inflation) would drop. She said that ‘There is no alternative’ (‘TINA’). The economy was regulated according to…

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