Margaret Thatcher was deposed by her party in 1990, but the legacy of her ideas in some form lingers on. The Tory Party itself has abandoned any pretence of interest the operating of free markets and is led my the antithesis of her views on social conservatism. Instead of the offspring of a lower middle class shop keeper who values financial prudence and views the economy like a household budget, the party is led by an Etonian with an almost complusive dishonesty who has frittered more money on fantasy projects than any British leader, ever. However, it is in the public imagination that ThatcherismMonetarism Monetarism is the economic school of thought associated with Milton Friedman, which rose to dominance as a counter to Keynesian economics. It posits that inflation is always a monetary phenomenon and that the government’s role should be limited to managing the currency rather than stimulating demand. Key Mechanisms: Inflation Targeting: Using interest rates to keep inflation low, even if high interest rates cause recession or unemployment. Fiscal Restraint: Opposing government deficit spending to boost the economy during downturns. Critical Perspective:Critics argue that monetarism breaks the post-war social contract. By prioritizing “sound money” and low inflation above all else, monetarist policies often induce deliberately high unemployment to discipline the labor force and suppress wages. It represents a technical solution to political problems, removing economic policy from democratic accountability. exists in zombie form. Popular culture regurgitates an endless series of Thatcherite nostrums about competition, enterprise, thrift, individualism and the merits of privatisation. This podcast explores the context of her rise to power and the shortcomings of her reign.

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