Main Element of Thatcherism

Abstract

Throughout the 1980s, Britain was run by the Conservative government which focused on not only reducing income taxes, inflation and state expenditure but also supporting free trade and free competition It also encouraged people to be independent economically and to be free from the directives of the European Community (EC). Margaret Thatcher led this government for more than 10 years; therefore, the word ‘Thatcherism' was coined after her name when one mentioned political and economic policies during that 10 year period. However, most scholars believe that Thatcherism is not an ideology or a school of thought based on a specific theory, but an administrative policy of the Conservative government then. Nevertheless, the indispensable element of Thatcherism is her own personality which was truly the moving force for implementing those policies. She strongly believed that what the government did was appropriate for the country although many did not always agree with her.