The Distinctive Features of Thatcherism and Reaganomics Essay

The Distinctive Features of Thatcherism and Reaganomics - quiz ExampleIt also tries to find out whether the ideologies introduced by these systems are still applicable in the true time economies. Features of Thatcherism Thatcherism is a collection of policies regarding political, social and economic matters that were formulated and implemented during the reign of Margaret Thatcher as the British Prime Minister. She stayed in power from 1979 up to 1990 and was the first woman to be elected as a British Prime Minister. Thatcherism ideologies in general composed of privatization of property, deregulation and authoritarian system in social policies. Thatcherism is mainly characterized by a conservative system of governance that dominated much in the period of in the midst of 1979 and 1990. This system is also characterized by the solid base it created in terms of governance and how much it had regorge to work on the subsequent governments even after its reign came to an end. The sy stem was solely led by one and only(a) Mrs. Margaret Thatcher who was the overall coordinator and all the others under her operated in accordance with the system. Thatcherism borrows some of its features from the political and economical cultures that were used during the precedent regimes. Some of these political and economical ideologies include the middle opinion, neo-Marxist and the Thatcherite (Manfred 2008, p.40). The Thatcherite was instituted by the conservatists in a bid to put inflation under control. They argued that massive changes needed to imposed otherwise governing Britain would became a nightmare. However, they failed to realize that the agreements do after the war contributed handsomely to the deterioration of Britains economical status and its decline in credibleness on the international stage. Later, attention shifted from curbing inflation to rebranding Britains image on the international scene, counter the general publics trust in the government and makin g Britains prudence more(prenominal) competitive. All these were arguably achieved thanks to Mrs. Thatchers determination and non-despairing attitude. Middle opinion involved a voice of the Conservative political party criticizing the Thatcherite project. They argued that despite the Thatcherite project being a success it injected very huge be into the economy of Britain which was unhealthy for the economic growth of the country. The neo-Marxist was an elaboration of the complaints raised by the Middle opinion. They appreciated the successes succeed by Thatcherism but they went ahead to study the policy to find the blackball effects, if any, that it brought with it (Manfred 2008, p.45). Successes of Thatcherism Despite all the negative criticism this policy has been subjected to, it also had its share of positive contributions to the British economy and its citizens. First, many have argued that Thatcherism contributed importantly into economic recovery of Britain after the w ar. This is mainly visible in its quest to control the rate of inflation which was a success. However, this success has been criticized for the huge level of unemployment it brought with it. The policy also managed to instill competition in the economy which facilitated growth of the economy. This was necessary to salvage the image which was heavily dented on the international scene. With these efforts, the conservative party had managed to win back the trust of its citizens. Thatcherism also