Evaluating Mrs. Thatcher’s Reforms: Britain’s 1980s Economic Reform Program

A. Patrick Minford

Chapter Chapter 9 in The Liberal Heart of Europe, 2021, pp 97-109 from Springer

Abstract: Abstract I discuss the reform programs of the Thatcher governments, starting with UK monetarism, then the labor market reforms, and finally the reshaping of taxes and government spending to help the rebirth of an entrepreneurial economy. I also consider the political question of how was Margaret Thatcher able to assemble the support for this ambitious agenda to succeed politically against many opposing interests. I suggest the answer lay in the ability of the Conservative party to unite its traditional middle-class constituency with the newly emerging aspiring skilled working-class constituency, which had a strong interest in these reforms.

Keywords: Thatcherism; Monetary policy; Inflation; Productivity; Benefits; Unemployment (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-60368-7_9

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DOI: 10.1007/978-3-030-60368-7_9

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