Policy blunder led to recession in Thatcher era
In 1979, Margaret Thatcher was elected to Downing Street with rampant double-digit inflation, rising unemployment and flatlining economic growth. Her grocery experience and monetarist orthodoxy held the control of money supply by rejecting the old orthodoxies and was promoted by only a minority of economists’ policy based on the doctrine of monetarism. Tim Lancaster, was the private secretary for economic affairs to Thatcher during the early years of her government, and gives an insider’s account explains her attitudes and decisions and those of the other main players in this deeply damaging experiment in economic policy making, which promised much but … Continue reading Policy blunder led to recession in Thatcher era
