Encyclopedia > Thatcherism

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Thatcherism is the system of political thought attributed to the governments of Margaret Thatcher, British Prime Minister during the 1980s.

See also Reaganomics and Rogernomics. Thatcherism is characterized by a free market liberalism perhaps more closely associated with Victorian Liberalism[?] in the United Kingdom, low taxation, trenchant opposition to vested interests not seen to be associated with the English middle classes[?], -- especially the Trade Unions[?] -- and a suspicion of the institutions of the British Welfare State. Thinkers closely associated with Thatcherism include Keith Joseph[?] and Milton Friedman.

Whether it ultimately benefited Britain or not, it destroyed the post-war consensus of British politics. In 2001 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".

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