Thatcherism

miner_strike.jpg
The miner's strike was a product of Thatcherism. Margeret privitized the coal industry and many miners were fired. The angry miners went on a strike from 1984 to 1985. In response, the government intervened with full force with riot polices to stop the strike, causing 700 injuries and 966 people fired.

It is used as a term to refer to Margeret Thatcher's economic reform of Britain during 1979 till 1990s. Margeret Thatcher shares the same belief as Reagan did(They were both in office for the similar period of time). Both followed the pathway Hayek proposed and both tried to put classical liberal principles back to the government.
Margeret Thatcher wanted society to have more private property. She did this by selling public property and public industries to private companies or individuals. An example can be seen through selling social housing, as she encourages the renters to buy the homes.
Thatcherism has a big relationship with the ebb and flow of liberal economics because Margeret is having an economic reform that promotes Hayek and Adam Smith's classical liberalism views instead of the once-popular Keynesian views.

Reference
"Thatcherism." Perspectives on ideology. Edmonton, Alta.: Alberta Education, 2010. 206-208. Print.
BBC.The Miner's strike. Retrieved March 18th from: http://www.bbc.co.uk/wales/history/sites/themes/society/industry_coal06.shtml