The Economy under Mrs. Thatcher

This book is a non-technical assessment of the Thatcher government, and its impact on the economy. The author begins by examining the Thatcher strategy in the context of the macropolicy of previous governments and then examines the analytical and philosophical basis of its implementation in fiscal, monetary and labour market policy. The impact of North Sea oil in the economy is also examined. The final chapters look in detail at the results of the strategy, the various criticisms levelled against it and attempts to provide an overall assessment in the light of both short and long term problems affecting the British economy. Professor Maynard suggests that Mrs Thatcher's administration should not be judged by the macrogoals of the post-war consensus, but rather by the long term goals implicit in the original strategy. This is a valuable textbook for students of modern British politics, the British economy and of macroeconomics. It will also appeal to all those interested in the foundations and aims of Britain's longest-serving post-war government.