Word: thatcherism
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...fortnight after Thatcher's landslide election win, the mood of many Britishers can be described as analogous to the feeling one gets when successfuly completing a grueling five hour exam the pain is worth the glory. Even those who are not Conservative sympathizers have taken Thatcher's "no free lunch" economics to heart and are he ginning to sharpen their knives for the dinner feast they hope will follow...
...WAKE of Prime Minister Margaret Thatcher's stunning victory two weeks ago, many of her supporters have predicted all sorts of peachy things to come for their proud country, promising everything short of a return to world domination and a repeat of the Falklands victory in the Ukraine...
...fact that England gross national product has dropped off by several percentage points and unemployment levels are at unprecedented heights seems not to matter. According to the script, Thatcher is expected to whip into shape the trade unions and other enemies of prosperity the same way she crushed the Argies last year...
BRITAIN: This year the British economy will grow 2.5%, the highest rate among major European nations, according to Brittan. He pointed out that Margaret Thatcher's thumping electoral victory was partly due to the fact that the purchasing power of people still employed has risen over the past four-year period, as inflation fell from 13.4% to 5.8%. Unemployment, of course, doubled to 3 million during that period, but Brittan argued that there exists a vague public agreement that no easy remedy can be found for the worldwide scourge of joblessness...
...second term, Thatcher will face first a leveling off, and then a decline, of North Sea oil revenues after some fields begin to go dry. This will mean that the Conservative government will no longer be able to count on the oil cushion that has so far helped it to soften the harsher effects of the recession. With inflation down, Thatcher is expected to take more risks to protect the recovery. To improve British competitiveness in world markets, Brittan expected the government to encourage a fall in interest rates, as it did last week, in order to slow the rise...