Although his attempt to limit public spending and adopting money supply targets failed at successfully curbing high inflation rates, politicians were already aware that the government was no longer in a position to ensure full employment to such a growing population.
Denationalisation is also one of the key issues of the Thatcher revolution, as self- employment rose throughout her mandates, following Callaghan's measures in privatising a part of BP shares in 1976 in order to reimburse the IMF loan. It shows that this was a slow process, and can hence not be described as "revolutionary"." Furthermore, the industrial public sector (that was mostly nationalised after the First World War) was clearly ruining Britain because of the dangerous increase of the Trade Unions' power throughout the consensus. Precedent recognition that they were impeding on Britain's potential growth existed: in 1969, Barbara Castle's white paper, "In Place of Strife," aimed at limiting their power and the "Industrial Relations Act" implemented in 1970, failed to reduce their supremacy effectively. Yet, the rejection of Strife's paper by Parliament aggravated the situation, which then led to sweeping changes under Thatcher. The miners' strike between 1984 and 1985 during the winter of discontent caused much debate on whether such a cold and indifferent reaction was justified; however, it seemed that Margaret Thatcher's reaction was correct as they gradually abandoned their cause. Consequently, these acts show that her ideas themselves were not revolutionary; the system under the consensus needed to be readapted. However, no Prime Minister had had enough support or wished to undertake the necessary measures, leading to a revolution: everything now came into the hands of a conviction politician whose main aim was to liberate a state-controlled economy. .
The rules of economics were proved to be right: by increasing competitiveness, productivity rose which led to an increase from 1.
HISTORY: in its broadest sense, is the story of humanity's past. It also refers to the recording of that past. The diverse sources of history include books, newspapers, printed documents, personal papers, and other archival records, artifacts, and oral accounts. Historians use this material to form...
Cross-national opinion polls prove that at this moment in time there is no collective European identity - at least when you ask the population itself instead of politicians on such a mysterious thing (a myth as many authors assume) as a common cultural heritage. ...
