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Updated: Aug 20, 2021

A shorthand for the economic principles underlying the policies of the Thatcher government in the UK from 1979 to 1990. These included promotion of competition to strengthen economic incentives, reduction of the role of government by deregulation and privatization, reliance on monetary policy to eliminate inflation, widening of individual choice, for example through the sale of council houses to their tenants, and a reduction in the powers of trade unions.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.