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Margaret Thatcher - Thatcherism

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Introduction

Margaret Thatcher - Thatcherism In 1979, in Margaret Thatcher, a woman was elected as British Prime Minister for the first time. The Conservative politician quickly gained the reputation of being an "Iron Lady"; she created at least as many enemies as admirers with her liberal economic policy, which led to painful cuts in social welfare.In 1982, through the successful war with Argentina over the Falkland Islands, she boosted her popularity, ensuring her re-election in 1983 and ushering in a new Conservative era. In the end, she fell because of extreme measures such as the introduction of the Community Charge (poll tax), which cost her any remaining support she had from the population and her party. In 1990, after an election within the parliamentary Conservative Party, she was replaced by John Major, who was friendly but unspectacular, precisely the opposite of Margaret Thatcher. Thatcherite Economic Policy : The effects of Mrs Thatcher's economic policy are still being felt today. She went through four phases of economic policy - the Friedmanite"early" monetarism (79-82) , "pragmatic" monetarism (83-85), reverse monetarism (86-88) ...read more.

Middle

The most significant consequence of Thatcherism for government in the 1990's will probably be to show that the government cannot leave it to the markets - some form of intervention is necessary. Major is showing signs of being more willing to embrace the nettle of intervention - thus Hesletine's recent speech that he will 'intervene before breakfast, before lunch etc' to save British Industry - yet his unwillingness to help keep the coal mines open, or to intervene to help Leyland Daf show the lessons will be not be learnt easily. In an article on the Future of the Major Government, Andrew Marr cites a retired civil servant, Jim Ross, who recently argued that: "We are unlikely to have confident government between now and the end of the decade. The state of the economy is such that no British government is likely to be accounted successful during that period". Thatcherism and its consequences Missed the train once and already there is a red signal. What England went through in the seventies may still be on the agenda for other European countries. ...read more.

Conclusion

Thus, at the end of 1996, there were officially only 8.1 percent unemployed, but if all the unemployed job seekers were to be counted the figures for England would then be 16.1 percent. By comparison, if this method of counting were to be applied in Germany, just 10.3 percent would be jobless. The English job wonder is therefore the result of a wonderfully imaginative method of calculation. England's economy is in a boom-phase. Corporations are expanding, trade is blossoming, and in no other country in Europe is there so much investment from abroad as in the United Kingdom. Even the job market seems to be in order: After the decline in the influence of trade unions and the accompanying drop in average labour costs, more people once again became employed. The unemployment figures at the end of 1996 were stated as 8.1% (Germany: 9.0%), with a downward trend. Small wonder, one might think, considering that labour costs in England are not even half those in Germany. However, many of the new jobs are part-time and badly paid. In addition, the supposed job wonder was strongly assisted by the statisticians, who simply did not count certain classes of unemployed individual. ...read more.

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