THATCHER: ECONOMICS

  • Created by: Ciara_T
  • Created on: 24-04-18 11:26
SHE INTENDED:
Reduce Inflation // Reduce budget deficit // Increase effiency // Reduce TU power
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SUMMARY OF POLICIES
free market> gov intervention // financial dereg // reduce tax = increase work incentive // TUs // monetarism
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MONETARISM (developed by Milton Friedman)
belief inflation is caused by the amount of money in the economy - had only been tested in the military dictatorship in Chile
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WHAT THATCHER DID
reduce the money supply through cuts to government spending and higher interest rates
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THE SUCCESSES
inflation reduced to single figure by '82, never rose above 9% for the rest of the 80s
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FAILURES
1980-81 budgets slashed gov spending (riots) Manufacturing fell 14% // 1982 3M unemp // 1979 Inflation 10.3% 1990: 10.9% - no real change
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Card 2

Front

SUMMARY OF POLICIES

Back

free market> gov intervention // financial dereg // reduce tax = increase work incentive // TUs // monetarism

Card 3

Front

MONETARISM (developed by Milton Friedman)

Back

Preview of the front of card 3

Card 4

Front

WHAT THATCHER DID

Back

Preview of the front of card 4

Card 5

Front

THE SUCCESSES

Back

Preview of the front of card 5
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