What happened to economic policy during the first five years of Mrs
Thatcher's government? Most commentators have emphasised the
radical changes wrought in economic theory and policy over the
period from 1979. The left saw this as heralding the introduction
of the social market economy and authoritarian populism, the right
saw it as evangelical monetarism and a new beginning. This book,
first published in 1986, challenges the notion that there was a
revolution in economic policy making. It emphasises the constraints
on economic policy formation and the ironies that these have thrown
up with respect to the Conservatives' attempts at changing the
course of the economy. The book argues that the Thatcher government
had not been able to implement a great deal of its rhetoric. This
book is ideal for students of economics and politics.
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