Moreover, it has been argued that the Thatcherites were not strictly monetarist in practice.
A common theme centres on the Medium Term financial Strategy, issued in the Budget, which consisted of targets for reducing the growth of the money supply in the following years. After overshooting many of these targets, the Thatcher government revised the targets upwards in Analysts have interpreted this as an admission of defeat in the battle to control the money supply.
The economist C. Pratten claimed that "since , behind a veil of rhetoric, the government has lost any faith it had in technical monetarism. The principles of monetarism have been abandoned". Thatcherism is also associated with supply-side economics. Whereas Keynesian economics holds that the government should stimulate economic growth by increasing demand through increased credit and public spending, supply-side economists argue that the government should instead intervene only to create a free market by lowering taxes, privatising state industries and increasing restraints on trade unionism.
Reduction in the power of the trades unions was made gradually, unlike the approach of the Edward Heath government and the greatest single confrontation with the unions was the National Union of Mineworkers NUM strike of —, in which the miners' union was eventually defeated. There is evidence that this confrontation with the trade unions was anticipated by both the Conservative Party and the NUM. The outcome contributed to the resurgence of the power of capital over labour.
All too often the ills of this country are passed off as those of society. Similarly, when action is required, society is called upon to act. But society as such does not exist except as a concept. Society is made up of people.
It is people who get things done. Her approach to society reflects her fundamental belief in personal responsibility and choice. To leave things to society is to run away from the real decisions, practical responsibility and effective action. Thatcherism is associated with a conservative stance on morality. Bad art was as good as good art. Grammar and spelling were no longer important. To be clean was no better than to be filthy. Good manners were no better than bad.
Family life was derided as an outdated bourgeois concept.
Criminals deserved as much sympathy as their victims. Many homes and classrooms became disorderly; if there was neither right nor wrong there could be no basis for punishment or reward. Violence and soft pornography became accepted in the media.perharedlourfcal.cf
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Thus was sown the wind; and we are now reaping the whirlwind. Examples of this conservative morality in practice include the video nasties scare, where in reaction to a moral panic over the availability of a number of provocatively named horror films on video cassette she introduced state regulation of the British video market for the first time.
Despite her association with social conservatism , Thatcher voted in to legalise homosexuality, one of the few Conservative MPs to do so. Children who need to be taught to respect traditional moral values are being taught that they have an inalienable right to be gay All of those children are being cheated of a sound start in life—yes cheated. The law was opposed by many gay rights advocates such as Stonewall and OutRage!
Margaret Thatcher: Declassified files show FBI feared Thatcher was in danger on US visit
Florence Sutcliffe-Braithwaite has argued that Thatcherism married conservatism with free-market economics. In the address, Thatcher offered a theological justification for her ideas on capitalism and the market economy. She said "Christianity is about spiritual redemption, not social reform" and she quoted St. Paul by saying "If a man will not work he shall not eat". Choice played a significant part in Thatcherite reforms and Thatcher said that choice was also Christian, stating that Jesus Christ chose to lay down his life and that all individuals have the God-given right to choose between good and evil.
Whilst Thatcher was Prime Minister, she greatly embraced transatlantic relations with the U. President Ronald Reagan. She often publicly supported Reagan's policies even when other Western allies were not as vocal. For example, she granted permission for American planes to use British bases for raids on Libya and allowed American cruise missiles and Pershing missiles to be housed on British soil in response to Soviet deployment of SS nuclear missiles targeting Britain and other Western European nations.
Towards the end of the s, Thatcher and so Thatcherism became increasingly vocal in its opposition to allowing the European Community to supersede British sovereignty.
In a famous Bruges speech, Thatcher declared: "We have not successfully rolled back the frontiers of the state in Britain, only to see them reimposed at a European level, with a European superstate exercising a new dominance from Brussels". While Euroscepticism has for many become a characteristic of Thatcherism, Thatcher was far from consistent on the issue, only becoming truly Eurosceptic in the last years of her time as Prime Minister.
Thatcher supported Britain's entry into the European Economic Community in , campaigned for a "Yes" vote in the referendum  and signed the Single European Act in It is often claimed that the word "Thatcherism" was coined by cultural theorist Stuart Hall in a Marxism Today article,  However, this is not true as the phrase "Thatcherism" was first used by Tony Heath in an article he wrote that appeared in Tribune on 10 August Writing as Tribune ' s Education Correspondent, Heath wrote: "It will be argued that teachers are members of a profession which must not be influenced by political considerations.
With the blight of Thatcherism spreading across the land that is a luxury that only the complacent can afford". Utley believing "There is no such thing as Thatcherism". Utley contended that the term was a creation of Thatcher's enemies who wished to damage her by claiming that she had an inflexible devotion to a certain set of principles and also by some of her friends who had little sympathy for what he called "the English political tradition" because it facilitated "compromise and consensus". Utley argued that a free and competitive economy, rather than being an innovation of Thatcherism, was one "more or less permanent ingredient in modern Conservative philosophy":.
It was on that principle that Churchill fought the election, having just read Hayek's Road to Serfdom. Powell proposed it in [ As for 'property-owning democracy', I believe it was Anthony Eden who coined the phrase. In foreign policy, Utley claimed Thatcher's desire to restore British greatness did not mean "primarily a power devoted to the preservation of its own interests", but that she belonged "to that militant Whig branch of English Conservatism In practical terms, he claimed this expressed itself in her preoccupation in "the freedom of Afghanistan rather than the security of Ulster".
Such leftist critics as Anthony Giddens claim that Thatcherism was purely an ideology and argue that her policies marked a change which was dictated more by political interests than economic reasons:. Rather than by any specific logic of capitalism, the reversal was brought about by voluntary reductions in social expenditures, higher taxes on low incomes and the lowering of taxes on higher incomes. This is the reason why in Great Britain in the mid s the members of the top decile possessed more than a half of all the wealth.
What is at play here are interests and power. The Conservative historian of Peterhouse , Maurice Cowling , also questioned the uniqueness of "Thatcherism". Cowling claimed that Thatcher used "radical variations on that patriotic conjunction of freedom, authority, inequality, individualism and average decency and respectability, which had been the Conservative Party's theme since at least ".
Cowling further contended that the "Conservative Party under Mrs Thatcher has used a radical rhetoric to give intellectual respectability to what the Conservative Party has always wanted". Historians Emily Robinson, Camilla Schofield, Florence Sutcliffe-Braithwaite and Natalie Thomlinson have argued that by the s Britons were keen about defining and claiming their individual rights, identities and perspectives.
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They demanded greater personal autonomy and self-determination and less outside control. They angrily complained that the establishment was withholding it. They argue this shift in concerns helped cause Thatcherism and was incorporated into Thatcherism's appeal. Critics of Thatcherism claim that its successes were obtained only at the expense of great social costs to the British population. While credited with reviving Britain's economy, Thatcher also was blamed for spurring a doubling in the relative poverty rate.
Britain's childhood-poverty rate in was the highest in Europe. The extent to which one can say Thatcherism has a continuing influence on British political and economic life is unclear. In , Peter Mandelson , a member of parliament belonging to the British Labour Party closely associated with Tony Blair , famously declared that "we are all Thatcherites now". In reference to modern British political culture, it could be said that a "post-Thatcherite consensus" exists, especially in regards to economic policy.
In the s, the now defunct Social Democratic Party adhered to a "tough and tender" approach in which Thatcherite reforms were coupled with extra welfare provision. Neil Kinnock , leader of the Labour Party from to , initiated Labour's rightward shift across the political spectrum by largely concurring with the economic policies of the Thatcher governments. The New Labour governments of Tony Blair and Gordon Brown were described as "neo-Thatcherite" by some on the left, since many of their economic policies mimicked those of Thatcher. Most of the major British political parties today accept the trade union legislation, privatisations and general free market approach to government that Thatcher's governments installed.
In , Miliband declared his support for Thatcher's reductions in income tax on top earners, her legislation to change the rules on the closed shop and strikes before ballots as well as her introduction of Right to Buy , claiming Labour had been wrong to oppose these reforms at the time. Moreover, the United Kingdom's comparative macroeconomic performance has improved since the implementation of Thatcherite economic policies. Since Thatcher resigned as British Prime Minister in , British economic growth was on average higher than the other large European economies i.
Germany, France and Italy. Additionally, since the beginning of the s the United Kingdom has also experienced lower unemployment compared with some other big economies. Such an enhancement in relative macroeconomic performance is perhaps another reason for the apparent " Blatcherite " economic consensus, which has been present in modern UK politics for a number of years.
Tony Blair wrote in his autobiography A Journey that "Britain needed the industrial and economic reforms of the Thatcher period". He described Thatcher's efforts as "ideological, sometimes unnecessarily so" while also stating that "much of what she wanted to do in the s was inevitable, a consequence not of ideology but of social and economic change". On the occasion of the 25th anniversary of Thatcher's election victory, BBC conducted a survey of opinions which opened with the following comments: .
To her supporters, she was a revolutionary figure who transformed Britain's stagnant economy, tamed the unions and re-established the country as a world power. But her year premiership was also marked by social unrest, industrial strife and high unemployment. Her critics claim British society is still feeling the effect of her divisive economic policies and the culture of greed and selfishness they allegedly promoted. From the viewpoint of late , the state of British politics showed that Thatcherism had suffered a "sad fate," according to The Economist magazine columnist Bagehot.
Others have been sharply reduced, such as insisting that deregulation is always the answer to everything.