7 financial shifts & the late Margaret Thatcher

For better or worse Margaret Thatcher may be seen to have helped lay the foundation of new financial thinking.

10:29 16 April 2013

Margaret Thatcher: some love and admire her policies, and others have less than glowing opinions of them. There were many ways that Thatcher influenced everyday life, but perhaps the most recognizable forms of her work centered on the financial aspect of the United Kingdom.

 

Some agreed with Thatcher’s vision in the bid to create a more stable economy, but there have been arguments about Thatcher and the economy. Some say that her methods resulted in the opposite of what she hoped for, while others saw potential with plans.

 

Here is a brief overview of some of her financial related work for the past decades:

 

• Advocated a shift from state-owned industries to privatized industries and utilities

 

• Reforming trade unions—while these are useful, and at times necessary groups, occasionally the interests of the groups are not advocated strongly enough, or those controlling the union make unrealistic demands of companies which results in negative backlash for the union members.

 

• Proponent for lower taxes

 

• Actively supported reduction of social expenditures

• Supported free-market ideology

 

• Approved of Mikhail Gorbachev for his reformist agenda

 

• Opposed closer integration with Europe—this could have meant repressed financial dealings, but also could have prevented the United Kingdom from being drawn into an economic crisis if the rest of Europe became financially unstable.