What are the key principles of Thatcherism in economic policy?

What are the key principles of Thatcherism in economic policy?

Thatcherism emphasizes free markets, deregulation, privatization of state-owned industries, and reducing the power of trade unions.

How did these principles affect the UK economy during her time?

These principles led to significant economic changes, including a shift towards a more market-oriented economy, but also increased unemployment and social unrest.

Were there any long-term effects of her policies?

Yes, many argue that Thatcher's policies laid the groundwork for a more competitive economy, but they also contributed to income inequality.

What criticisms did her economic policies face?

Critics argue that her policies favored the wealthy, led to social division, and neglected public services and welfare.

How do her policies compare to current economic strategies?

Current strategies often focus on balancing market efficiency with social welfare, contrasting with Thatcher's more laissez-faire approach.