Thatcherism


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Related to Thatcherism: Margaret Thatcher

Thatcherism

the economic and social policies associated with the British prime minister (1979-90) Margaret Thatcher, which replaced an era of KEYNESIAN ECONOMICS and ‘consensualist’ politics and CORPORATISM in the UK with an emphasis on MONETARISM and market mechanisms and a more confrontational style of politics, especially in the introduction of greater controls over trade unions.

Sociologists have debated the political character and implications of Thatcherism. While Stuart HALL et al. (eds) (Policing the Crisis, 1978, and The Politics of Thatcherism, 1983) have characterized the political style of Thatcherism as involving a marriage of free-market ideology, strong state, and ‘authoritarian populism’, Jessop et al., Thatcherism, (1989) present what they regard as a ‘more rounded account of Thatcherism’, analysable in terms of the interrelated implications of its 'social base’, ‘accumulation strategy’, 'state strategy’, and ‘hegemonic project’. Thatcherism is seen as the Conservative Party's response to the continuing long-term relative decline in the British economy and in the capacity of the state to regulate economic and social relations (see also FISCAL CRISIS IN THE CAPITALIST STATE). In these circumstances, a new social base is sought in ‘popular capitalism’ (e.g. home ownership, a widening of share ownership based on PRIVATIZATION), while adopting an accumulation strategy which (in contrast with Germany or Japan) involves opening the economy to international capitalism. The main 'state strategy’ associated with these moves is the fostering of’neoliberal’ state forms, including a rolling back of corporatist arrangements. Finally, a ‘hegemonic project’, involving acceptance of a degree of division into ‘two nations’ (e.g. the rejection of a 'social contract’) and the building of a populist emphasis on law and order and raison d’état, has tended to replace the social inclusiveness associated with the ‘postwar compromise’. The question remains whether this is too negative an assessment of Thatcherism, whether Thatcherism may succeed in building a long-term basis for its own continuation, including the achievement of lasting improvements in the performance of the British economy, genuine benefits for consumers and improvements in industrial relations recognized on all sides, or whether there are weaknesses in its economic and social strategies which will provoke a reaction.

References in periodicals archive ?
He says any mention of Thatcherism sends "chills" down many people's spines but says her policies MUST be studied because of the impact they had on places like Liverpool.
"Pretending Thatcherism doesn't exist or that it's not something worthy of scholarly interest is to the detriment of understanding what happened to the political fabric of places like Liverpool and where they are now, and where they want to go in the future."
These are activists who were disillusioned and angered by three things: the Thatcherite juggernaut of the 1980s, the great New Labour compromise with Thatcherism, and the post-2010 austerity offensive.
This is where Modi shows a streak of Thatcherism. The Modi government plans to privatize everything and outsource maintenance of railway stations, catering and cleaning of trains, to name a few, the way it is done in many developed countries.
The view that Money is a refutation of Thatcherism has long had considerable critical purchase, as for example in work by James J.
Stuart was a regular contributor to Marxism Today in the decade following the moving right show article, and as it progressed he kept on producing analyses of Thatcherism and its times that were unequalled anywhere else.
"I often tell my students that the term 'Thatcherism' was quite possibly coined in the Muirhead Tower, here at the University of Birmingham," he said.
(http://www.ibtimes.co.uk/articles/454745/20130408/baroness-margaret-thatcher-obituary-dies-87-stroke.htm) Margaret Thatcher Obituary: Thatcherism Defined 20th-Century Politics and Protest
none) is another facet of this Thatcherism which New Labour pursued in the Blair years - to much adulation from the right wing press that now decries him and revises history to make it appear that anything other than the economic policies we have followed without pause since 1979 are to blame for where we find ourselves.
Less than two months after this Con/Lib Pact was formed - we are virtually back to full blown Thatcherism.
It's set in a Welsh village in 1981, suffering in the wake of the free market polices of Thatcherism, against the backdrop of the fairytale wedding - which would end so tragically - of Prince Charles and Lady Diana Spencer.
Never having been 'seriously tempted' to vote Conservative, in fact an opponent of Thatcherism during the 1980s, Vinen nonetheless claims that there is the need for a 'dispassionate' account of her governments, which on their own terms at least, were 'often successful' and certainly not the 'signal disaster' which the left predicted (p.