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Essay On Neoconservatism

1569 Words7 Pages

Since 1979 the Conservative government, which came to power, was led by the energetic M. Thatcher, who proposed an entirely new economic development program radically different from all previous programs. Such economic development strategy in history was known as neoconservatism. She rejected all strong state regulation of the economy, i.e. the idea of Keynesianism. The new government analyzed the accumulated economic problems and came to the conclusion that in order to exit the country from this situation it is necessary to eliminate in the social and economic system a number of shortcomings. Firstly, excessive power was in the hands of trade union leaders who were more often guided by personal interests and blackmailed large entrepreneur’s …show more content…

Inflation has been contained, but this policy quickly led to declining in such spheres like production, bankruptcies, soon the closure of many enterprises and mass unemployment, that inflation reached the level of the "Great Depression" that was in 1930s period. In the early 80's, unemployment in the country exceeded all conceivable limits, reaching a mark of 3 million people (the highest level since the 30s). During the summer of 1981 different rebellions occurred in several cities. The Labor Party was strengthened by the Left and Trotskyites groups. Thanks to their influence, there were decided to have a closer relationship with the trade unions and after the party's return to the power strengthen state regulation. Some of the right-wing Laborites broken up and in 1981 formed the Social Democratic Party, which entered into an alliance with the

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