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Thatcherism sought to minimise the importance of welfare for the middle classes and reinvigorate Victorian bourgeois virtues. Thatcherism was family centred, unlike the extreme individualism of most neoliberal models. It had its roots in historical experiences such as Methodism and the fear of the too-powerful state that had troubled Hayek.
Reagan gives a televised address from the Oval Office, outlining his plan for tax reductions in July 1981.. Reaganomics (/ r eɪ ɡ ə ˈ n ɒ m ɪ k s / ⓘ; a portmanteau of Reagan and economics attributed to Paul Harvey), [1] or Reaganism, were the neoliberal [2] [3] [4] economic policies promoted by U.S. President Ronald Reagan during the 1980s.
Ronald Reagan's economic policies, dubbed "Reaganomics" by opponents, included large tax cuts and were characterized as trickle-down economics.In this picture, he is outlining his plan for the Economic Recovery Tax Act of 1981 from the Oval Office in a televised address, July 1981.
The thesis of post-war consensus was most fully developed by Paul Addison. [5] The basic argument is that in the 1930s Liberal intellectuals led by John Maynard Keynes and William Beveridge developed a series of plans that became especially attractive as the wartime government promised a much better post-war Britain and saw the need to engage every sector of society.
[67] [68] These policies are often described as Reaganomics, and are often associated with supply-side economics (the notion that, in order to lower prices and cultivate economic prosperity, policies should appeal to producers rather than consumers). During Reagan's tenure, GDP grew at an annual rate of 2.7% per year. [69]
Reagan appealed to social conservatives who felt marginalized by the growing liberalization of American culture, calling on the "forgotten man" or "moral majority". [60] [61] After the tumultuous period of political and cultural changes in the 1960s–1970s, Reagan's moderate traditionalism appeared as a source of needed stability for many ...
Through Marxism Today, Jacques is sometimes credited with coining the term "Thatcherism", and believed they were deconstructing the ideology of the government of the-then Prime Minister of the United Kingdom, Margaret Thatcher, through their theory of New Times. It was also a venue for the influential British cultural studies of Stuart Hall.
"There is no alternative" (TINA) is a political slogan originally arguing that liberal capitalism is the only viable system. At the turn of the 21st century the TINA rhetoric became closely tied to neoliberalism, and its traits of liberalization and marketization.