Thatcherism and British living standards

In the coverage of Margaret Thatcher’s economic legacy, there is no shortage of broad-brush statements. Supporters claim that she cured the sick man of Europe, reversing a decade-long trend of economic decline. Opponents claim that she destroyed the country’s healthy industrial base, and replaced it with a low-wage service economy. The coal mines went, and the call centres came. But be that as it may – what does it mean on the ground? What did ‘Thatcherism’ mean for the millions who were neither coal miners nor ‘fat cats’?

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Source: http://www.iea.org.uk/blog/thatcherism-and-british-living-standards

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