Word: thatcherism
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...novel suggests that she was not stymied at all; she was merely waiting for current events to provide her with enough material for a new book. The Radiant Way is, among other things, a chronicle of some five years of British life under the sway of Prime Minister Margaret Thatcher and & the Tory party. Drabble's fictional characters must cope on a regular basis with a changing political landscape. They are spirited, intelligent, opinionated and hardly passive, but their destinies are not under their own control. Government budget cuts can render them redundant, cost them their jobs; violence unleashed...
...Margaret Thatcher' s Britain makes a rich subject for Margaret Drabble' s tenth novel. -- A sardonic memoir of 40 years...
...intended as a highlight of Prime Minister Margaret Thatcher's ambitious program to put Britain's vast array of state-owned businesses back into private hands. But when some 2.2 billion government shares in British Petroleum -- about 31.5% of the company's equity -- came up for sale last week, the result was an enormous bust. In the wake of Black Monday, BP shares already on the market were trading well below the $5.68-a-share issue price of the new offering, and investors therefore shunned the new $12.2 billion flotation. Underwriters were stuck with millions of unsold shares, and could...
Privatization has paid off handsomely in Britain, where 16 major state-owned enterprises, including Jaguar and Rolls-Royce, have been returned to the business sector since Thatcher first took office in 1979. By and large, the companies have prospered. Since it came to power last year, the Chirac government in Paris has sold 25 companies, including the merchant bank Paribas, the telecommunications giant CGE and the large commercial bank Societe Generale. The idea has started to catch on elsewhere. In Portugal, where state businesses have sucked $13 billion in operating losses and subsidies from the economy since the leftist revolution...
...that he did not know why London "should be following Wall Street quite so slavishly." Samuel Brittan, widely respected economic commentator for the Financial Times, ventured a prediction that the stock slump would clip half a point off Britain's 3.0% projected growth rate next year. Prime Minister Margaret Thatcher called for a healthy dose of budgetary realism in Washington, and Chancellor Lawson reminded tight-fisted central bankers in Bonn that it was a credit crunch that turned the 1929 Crash into the painful 1930s Depression. Said he, referring to West Germany's reluctance to stoke its economy: "It would...