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

In: The Liberal Heart of Europe

Author

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  • Patrick Minford

    (Cardiff University)

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.

Suggested Citation

  • Patrick Minford, 2021. "Evaluating Mrs. Thatcher’s Reforms: Britain’s 1980s Economic Reform Program," Springer Books, in: Francesco Giavazzi & Francesco Lefebvre D'Ovidio & Alberto Mingardi (ed.), The Liberal Heart of Europe, chapter 0, pages 97-109, Springer.
  • Handle: RePEc:spr:sprchp:978-3-030-60368-7_9
    DOI: 10.1007/978-3-030-60368-7_9
    as

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