Thatcherism. Assess the impact of Thatcherism on the Conservative Party's approach to Politics since 1975

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27/04/07 Thatcherism Assess the impact of Thatcherism on the Conservative Party's approach to Politics since 1975When Thatcher became leader of the Conservative Party in February 1975, she began to air her new radical policies. Thatcher's ideas were revolutionary and have had a considerable impact on Conservatism. This essay will assess Thatcher's influences and ideas and their impact on Conservative Party politics.It is important to look at Thatcher's inspirations to understand the main policies of Thatcherism. Thatcher drew on the ideas of Milton Friedman via her influential colleague, Sir Keith Joseph. One of Friedman's concepts was a simple one: to control inflation by controlling the supply of money and credit circulating the economy. This is something Thatcher would take on board in her Prime ministerial years to come. Her other influences came from Hayek, (that of economic freedom) and Adam Smith (a Laissez-Faire policy of letting Market forces create Prosperity on their own.) Thatcher believed that if the state interfered with businesses and industry too much, it steals freedom from the consumer and the consequence is inefficiency.One of Thatcher's pet hates along with consensus politics, is that of Trade
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Unions. Thatcher hoped to defeat them by confronting them. Thatcher also objected to the Welfare State-her main reasons for this being expense and the idea that it would be over-dominating to have it in existence. Thatcher was patriotic. This was later shown in the Falklands War and later her decision to go for the US link over European Unity.From these Policies it is easy to see how Thatcherism turned around traditional Conservative approaches to politics. Her four main policies of duty, responsibility, authority and discipline can be put into the category of Neo-Conservatism and this continued even into Major's leadership ...

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