User:Jack.snell29/Neoliberalism

Margret Thatcher is renowned for various different reasons. The first being her uncompromising approach to all areas of British Politics. Throughout her 11-year term as the British Prime Minister, she put into place an extremely radical new Neoliberal approach to help stimulate their economy. At the start of her term, the British economy was suffering because of the old-fashioned workers unions that had long been in place. Many of which were in constant states of strikes and worker walkouts. As we all know, an economy based on constantly striking industry is not a successful one. She knew that the only way to stop this and to get their economy back on its feet was to get rid of these old-fashioned unions and privatize businesses. Spurred by the Paris riots in 1968, this trend of Neoliberalism seemed to be the ideal form of capitalism moving forward. This uncompromised form of privatization that would pave the way for following decades would become known as Thatcherism. She went about putting mass privatization into place by cutting government ties to industry which led to a significant decrease in government spending. This also meant a significant reduction in taxes. With the British economy faltering prior to her term as Prime Minister, Thatcher knew that the British public was looking for some sense of National pride to regain. Also known as Nationalism, she rode this wave to successfully implement her new policies. In return, the policies led to an even greater sense of pride and Nationalism in Britain