On April 8, 2013, Baroness Margaret Thatcher died at the age of 87. She was prime minister of Britain from May 1979 to November 1990 and was in the House of Lords from 1992 until her death last month. She made history by becoming Britain’s first–and so far only–female prime minister and completely changing the path England was going down. After all, she wasn’t nicknamed the Iron Lady and there isn’t an economic theory of named after her for nothing.
The Iron Lady
When she became prime minister in 1979, England wasn’t in a good position: an almost bankrupt government, inflation, industrial unrest, and more. She turned England around and put it on a better path by privatizing and deregulating government, tax cuts, etc.–which was later known to be Thatcherism.
But there was a bigger, underlying reason why England was in it’s position it was in when Margaret Thatcher was…
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