THATCHERISM

Thatcherism

[Nam of student]

Thatcherism

Thatcherism is basically political thoughts which are based on the policies of the United Kingdom's former conservative Prime Minister, Margret Thatcher. (www.zum.de, 2012). She was born in October 1925 at Grantham, near a small market in Eastern England. She is also called by her nickname “Iron lady”. Her father was a local businessman. Her father operated a grocery store and his father introduced her to conservative politics. His father was the member of the town's council. (www.biography.com). “Thatcher was accepted to Oxford University, where she studied chemistry at Somerville College.” In the university Thatcher served as the president of Conservative association. After the two years of graduation she participated in the election for the parliamentary seat in 1950. She was defeated and she knew that fact that it would be impossible to win. She tried again and again she was defeated.She participated in the Elections this time for the seat of House of Commons and won the seat representing Finchley. In 1961 Thatcher became the secretary for insurance and national pensions. (www.biography.com). Margret Thatcher was the first women Prime Minister of United Kingdom and also the first women who lead the huge western democracy. The political career of Margret Thatcher has been one of the memorable careers of a politician in modern era. She is the only lady prime minister which has won three consecutive General Elections and became the Prime Minister of the United Kingdom three times. She has served for more than eleven years from 1979 to 1990. It is a record of the century. (www.margaretthatcher.org, 2012). The Thatcherism basically includes the diplomatic policies, social policies and economic policies of the former Prime Minister of United Kingdom, Margret Thatcher. Thatcherism essentially more focused to the economic policies of Margret Thatcher.

Thatcherism's ideology supports individualism, individualism means the individual persons and their families. Its not only an ideology but it is also the vison of the Mrs. Thatcher about the organization of the society Annonymous (1988). During the era of Thatcher that is from 1979 to 1990 she brought significant influence on the economic policies of United Kingdom. She focused on the privatization of the nationalized industries which makes the British economy competitive. Thatcher reduced the direct taxes on the people living in United Kingdom. Thatcher economic policy reflects the ideology of free market and capitalism which was the ideology of Adam Smith rather than socialism which was the ideology of karl marx, her ideology and policies support the capitatlism approach. She believes that there should be minimum government intervention in the market. The market should be set free where people can invest and maximize their wealth without any intervention of the government (stewartmorris, n.d). In her era she does not only focus on the economic policy but she almost revive every feature of the United Kingdom's politics. She reformed the non operational institutions and makes them operational institution. The two elements of her conservative policy are the denationalization which means that the government ...