Thatcherism and the British Economy

Thatcherism refers to the economic policies introduced by Prime Minister Margaret Thatcher in the late 1970s and 1980s. It aimed to reduce government intervention, deregulate industries, privatize state-owned companies, and promote free markets. These changes shifted the UK economy from heavy government control toward a more market-driven approach, encouraging competition and entrepreneurship. While it helped stimulate growth and reduce inflation, it also led to increased inequality and industries facing decline. Overall, Thatcherism transformed the British economy by emphasizing individual enterprise and reducing the power of trade unions.