The Battle of Ideas - Thatcherism: Battle for the world economy

Studienarbeit aus dem Jahr 2006 im Fachbereich Englisch - Landeskunde, Note: 1,0, Universitat Kassel (Anglistik), Veranstaltung: Thatcherism, Sprache: Deutsch, Abstract: This paper will be about Margaret Thatcher, Great Britain’s first woman Prime Minister, and her monetary policies - her successes and failures. In order to show these, we have to look at monetarism and its origin. We will introduce famous economists, such as John Maynard Keynes, Milton Friedman and Friedrich von Hayek, and their theories on economics. Furthermore, we will show why these theories were successful at one period of time but failed, however, a couple of years later. Moreover, this paper will explain why Thatcher decided to go a completely new way with Britain’s economics and, by doing so, against the most members of her Cabinet. Finally, we will prove that Thatcher’s ideas and reforms helped Britain to become a wealthy and prosperous country as we know it now.