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Assess the underline thinking of Conservative economic policy between 1979 and 1997.
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Assess the underline thinking of Conservative economic policy between 1979 and 1997 When the Conservative party came into power in 1979 they openly abandoned many of the economic policies which had come about from the post war consensus. Thatcher and the New Right took a very different approach to economic policy and the main aim changed from being full employment, to the reduction of inflation. The first radical change was to move away from Keynesianism which had been in place for over 30 years and instead, use Monetarianism. The main aim of this is to keep inflation under control, even at the sacrifice of full employment, a strong feature in the post was consensus. The Monetarian view is that the government's only role should be to control the money supply, which is the total amount of money in the economy. The second thing Thatcher's government wanted to do was to reduce...
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