Nature of Thatcherism

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  • Created by: b
  • Created on: 30-04-13 17:16

There is a greater emphasis on the idea that government activity should be limited. This is reflected in the concept of 'neo liberalism' which is a modern version of nineteenth century classical liberalism whose supported believed in minimal gov. They are monetarists believing the gov should not manage the economy actively, but rather simply maintain financial disiciplines, avoid excessive gov borrowing and regulate the issuing of currency to avoid inflation.

Limited gov implies little or no interference in industrial, financial + commercial activity, low personal and business taxation and the maintenance of free markets with no regulation.

Powerful trade unions are an obstacle to private innovation + economic growth because they pursue the interest of workers


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