To what extent was Margret Thatcher's premiership a failure economically?

Margret Thatcher did succesfully tame excessive inflation rates through the use of monetarist polices. However, this came with the oppertunity cost of rising unemployment as well as a shift away from the industrial sector. During Thatcher's premiership coal production fell drastically, reaching the lowest point in 1984 shortly after the battle of Orgreave. Rising unemployment and economic reallignment during this period prevented Britain from achieving a real GDP output which rivalled the previous prosperity of the 50s and 60s.

MB

Related History A Level answers

All answers ▸

Were economic failings the main cause of the collapse of Communism in Eastern Europe?


To what extent had the Nazis achieved an 'economic miracle' by 1939?


Was James I the cause of religious disputes between the years 1603 to 1625?


What is the significance of Margaret Thatcher's entry into the Exchange Rate Mechanism in 1990?