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To Thatcher's astonishment, the Conservatives had decided that it was time to shelve the economic policies of the 1980s. The Conservative Party leader at the time, William Hague , said that the party had learnt its lesson from the 1980s and called it a "great mistake to think that all Conservatives have to offer is solutions based on free ...
Thatcherism represented a systematic and decisive overhaul of the post-war consensus, whereby the major political parties largely agreed on the central themes of Keynesianism, the welfare state, nationalised industry, and close regulation of the economy, and high taxes. Thatcher generally supported the welfare state while proposing to rid it of ...
The slogan was often used by Thatcher. [citation needed] [11] The phrase is used to signify Thatcher's claim that the market economy is the best, right and only system that works, and that debate about this is over. One critic characterized the meaning of the slogan as: "Globalised capitalism, so called free markets and free trade were the best ...
There Is No Alternative: Why Margaret Thatcher Matters is a 2008 biographical account of the premiership of Margaret Thatcher written by American author Claire Berlinski.. The title is a reference to Margaret Thatcher's fondness for the slogan "There is no alternative" which she used to describe her belief that despite capitalism's problems, "there is no alternative" to it as an economic ...
Thatcher's decisive response to the Iranian Embassy siege (aftermath pictured) won her widespread praise during a difficult period for the British economy. Thatcher's determination to face down political violence was first demonstrated during the 1980 siege of the Embassy of Iran, London, when the armed forces were for the first time in 70 ...
The phrase Big Bang, used in reference to the sudden deregulation of financial markets, was coined to describe measures, including abolition of fixed commission charges and of the distinction between stockjobbers and stockbrokers on the London Stock Exchange and change from open outcry to screen-based electronic trading, effected by UK Prime Minister Margaret Thatcher in 1986.
The phrase made reference to Thatcher's refusal to perform a "U-turn" in response to opposition to her liberalisation of the economy, which some commentators as well as her predecessor as Conservative leader Edward Heath had urged, [3] mainly because unemployment had risen to 2 million by the autumn of 1980 from 1.5 million the previous year ...
It is argued that from 1945 until the arrival of Margaret Thatcher in 1979, there was a broad multi-partisan national consensus on social and economic policy, especially regarding the welfare state, nationalised health services, educational reform, a mixed economy, government regulation, Keynesian macroeconomic policies, and full employment ...