Question

Thatcherism: Explain what is known as Thatcherism and some of its main characteristics. Compare it briefly with the what is know in the US as Reaganomics.

Answer 1

Thatcherism means economic policies put into efffect by margaret thatcher , former prime minister of Britain .

1.Thatcherism focussed more on controlling inflation rather than controlling unemploymeny

2.Power of the trade union was reduced

3. concept of free markets

4. Low taxation

5.privatisation of state owned industries

Reaganomics means economic policies by Ronal Reagan

1.increased public expenditures

2. Decrease in taxes

3. It helped in reducing unemployment