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Transcript of Margaret Thatcher
Time of immense social and economic change
Thatcher battled the
by initially raising interest rates to control inflation
Thatcher faced a
during her first term
From 1983 to 1987 : Thatcher handled a number of
conflicts and crises :
assassination attemp against her in 1984
She was an advocate of privatising state-owned industries and utilities, reforming trade unions, lowering taxes and reducing social expenditure across the board
III - What is left from her?
- lower inflation
- growth in
- effects of the Big Bang on growth and
She was a revolutionary figure who transformed Britain's stagnant economy, tamed the unions and re-established the country as a world power
Together with Reagan and Bush, she helped bring about the end of the Cold War
But her 11-year premiership was also marked by social unrest, industrial strife and high unemployment
Her critics claim British society is still feeling the effect of her divisive economic policies and the culture of greed and selfinshness they allegedly promoted
She was born in 1925 in Grantham
Daughter of a grocer, preacher and local mayor was active in local politics
1946 : Oxford university and became the President of the Oxford University Conservative association and
1947 : graduated with second-class honors in chemistry
She works as a chemist for BX Plastics
I - Who is Margaret Thatcher?
Entry into politics
First bid for public office
She studied law
She qualified as a barrister
She won her first election : seat of Finchley in London
The Conservative Party lost power and she became a dominant force in her political arena
: She got elected as leader of the Conservative Party and became the first woman to serve as the opposition leader in the House of Commons
May 4, 1979 :
She was finally appointed as
II - What has she done?
influence of Friedman and Hayek
opposed to previous government policies
Controlling inflation rather than unemployment
From 25% in the mid 70s to 10% in the 90s
Tight control of money supply ...
... through increased
Inflation under Thatcher
Margaret Thatcher is elected in 1979
The Iron lady
: She lost support due to her effort to implement a fixed rate local tax
She left the House of Commons. She was appointed a peeress in the House of Lords with the title of Baroness Thatcher of Kesteven and continued giving speeches and lectures across the world
She also founded the Thatcher Foundation wich aimed to advance the cause of political and economic freedom
: She became a member of the Order of the Garter, the highest order of knighthood in England
: Retired from public speaking
She died of a stroke on April 8, at the age of 87
: create free market by lowering taxes, privatizing and taming trade unions
Reducing the power of
, which are interfering with market forces -->
Deregulation of financial markets :
the Big Bang
= idea that state intervention should be restricted to the essentials.
: rejection of state ownership
Right to Buy
Operating outside the welfare state
UK in the world
Nationalism : the
: April 1982, contributed to election victory in 1983
: Close relationships with the US, Ronald Reagan, similar policies
: "We have not sucessfully nolled back the frontiers of the State in Britain only to see them reimposed at a European level"
She is not opposed but thinks it should be limited : ensuring free trade and effective competition
Maragaret Thacther and Ronald Regan
Increase in GDP under Thatcher
The fall in inflation
: est le nom donné à l'ensemble des politiques conduites par Margaret Thatcher alors qu'elle était Premier ministre du Royaume-Uni de 1979 à 1990, notamment sa politique économique libérale.
The House of Commons :
chambre basse du Parlement du Royaume-Uni. Le Parlement comprend également le monarque (le roi ou la reine) et la chambre haute, la Chambre des lords.
: Le Parti conservateur britannique est le principal parti de centre droit et de droite au Royaume-Uni.
: Le Parti travailliste est un parti politique britannique de centre-gauche.
: Soumettre, contenir, dompter
: Charbon, houille
Public expenditure :
Les dépenses publiques
: Remplacer, prendre la place de
: personnes dépendant de l'aide sociale, de l'Etat-providence
: Lutte, conflit
==> unemployment, poverty and inequalities
- Greed and selfishness
: " Free markets, financial discipline, firm control over public expenditure, tax cuts, nationalism, "victorian values", privatisation and a dash of populism" N Lawson
London as a leading financial centre
To what extent do Thatcherist policies still have an impact today?