Margaret Thatcher exposed the infantile illusions of socialism

Before Thatcher, the Conservative party had more or less acquiesced to the Labour view of the economy — as a fixed lump of wealth to be parceled out to whatever interest groups spoke up most loudly. But Thatcher freed up markets to vastly increase national wealth. There were, she declared, “only two political philosophies, noly two ways of governing a country. One is the Socialist-Marxist way in which what matters is not the people but the State.

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