Margaret Thatcher and Ronald Reagan are closely linked in the minds of both Conservatives and Liberals — on both sides of “the pond.” The two served as heads-of-state at the same time in the 80’s, and together they transformed both nations by instituting radical free-market economic theories.
As America observes the death of Margaret Thatcher and the predictable articles lauding her tenure, we must also take a good look at the results of her austerity, union-busting, and privatization policies. Great Britain is today suffering the consequences of her misguided leadership, and America is still paying a huge price for Reaganism.
Both Thatcher and Reagan cut unions off at the knees, which combined with their massive tax breaks for the wealthy, led directly to the beginning of the great income disparity both countries are now suffering. Income disparity has huge negative impacts on nations economies, according to The International Monetary Fund.
For really good assessments of the reign of Margaret Thatcher as England’s Prime Minister, check out this article on msnbc.com , and this one at New York’s Daily Intelligencer.
Maggie Thatcher and Ronald Reagan drug their respective countries into extreme conservatism, and both nation’s are paying the price today.
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