Thatcherism

Thatcherism is a British conservative political ideology associated with Margaret Thatcher, emphasizing free markets, privatization, reduced trade-union power, and a smaller state.

Privatization: The transfer of assets or services from public ownership or control to private ownership or operation. Selling state-owned industries was a central way Thatcherism expanded private enterprise.
Winter of Discontent: A wave of UK public-sector strikes during the winter of 1978–79 over pay and working conditions. The strikes weakened confidence in Labour government and strengthened demands for political change.
Margaret Thatcher: British Conservative politician who served as prime minister from 1979 to 1990. Her leadership gave Thatcherism its name and made it the governing program of her administrations.
UK miners' strike (1984–1985): A year-long British coal miners’ strike against pit closures, led by the National Union of Mineworkers. The defeat of the strike demonstrated the government’s determination to curb union power.
Neoliberalism: A political and economic approach favoring market competition, private enterprise, and limits on state economic management. Thatcherism helped make neoliberal policies influential in British and international politics.
Monetarism: An economic doctrine that emphasizes controlling the money supply to manage inflation and economic activity. Thatcherite governments adopted monetary restraint as a central response to inflation.
British economic decline: The long-term weakening of Britain's relative industrial and economic position during the twentieth century. Perceptions of national decline made radical economic reform appear more urgent.
Nigel Lawson: A British Conservative politician who served as chancellor of the exchequer from 1983 to 1989. His budgets and tax reforms were among the most influential economic policies of Thatcher’s governments.
Falklands War: A 1982 war between the United Kingdom and Argentina over the Falkland Islands. Victory strengthened Thatcher’s political authority, though the war was not an economic reform.
Deindustrialization in the United Kingdom: The long-term decline of manufacturing employment and industrial production in the United Kingdom. Market restructuring during the Thatcher years accelerated a decline with lasting regional consequences.

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