Word: thatcherism
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...Thatcher herself is no longer in fashion, perhaps she can be comforted by the fact that Thatcher mementos are. A limited edition of 1,000 Thatcher Toby jugs -- ceramic mugs shaped in a likeness of her wearing a three-cornered hat -- moved briskly at $200 each when they were introduced in 1989. Then came the poll tax early this year, and sales vanished. Once Thatcher resigned, however, the orders jumped again, obeying Thatcher's dictum that the marketplace should be allowed to dictate demand...
...must have been a bittersweet moment for Margaret Thatcher. Minutes after Britain's Conservative Party announced that it had chosen her next-door neighbor, Chancellor of the Exchequer John Major, to succeed her, the ousted Prime Minister dashed through the connecting door between No. 10 and No. 11 Downing Street to congratulate him. At 47, Major had just become the youngest man to assume the venerable office since 1894. As a smiling Thatcher watched from a second-floor window of the Chancellor's official residence, Major emerged to face the press and pay tribute to his political mentor, calling...
...Thatcher said she was "delighted and thrilled" by Major's succession, adding, "He will be a superb leader of this country." She had good reason for ebullience. Forced out of office by her own party the week before, Thatcher saw her protege chosen as Prime Minister, ensuring that the basic tenets of Thatcherism would continue to set the national agenda even after she stepped down...
Major's victory was also a decisive setback for the political fortunes of Michael Heseltine, the former Defense Minister who led the charge against Thatcher and was considered the top contender for her job after he won 152 votes in the first round of a party-leadership contest two weeks ago. Warned that she would lose the second ballot against Heseltine, Thatcher resigned to allow Major and Foreign Secretary Douglas Hurd to enter the race...
...same time, Major, who never attended a university, benefited from his image as a man of the people who had overcome his humble origins by dint of hard work and talent. Soft-spoken and calm, Major offered Tories a perfect compromise -- a continuation of Thatcher's basic policies without the drawbacks of her grating style...