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Discuss the rationale for and impact of the monetarist policies implemented by the Thatcher administration.
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Discuss the rationale for and impact of the monetarist policies implemented by the Thatcher administration When Margaret Thatcher was elected into power in 1979 she labelled herself as a 'conviction' PM with her election success attributed partly to her strong character and divided opposition but mainly on her economic pledges. In the 10 years spanning Thatcher's leadership a variety of approaches were adopted towards the economy, some successful and some not so successful. The best way of evaluating the economic policies undertaken is to divide the era into three sections - the early Thatcher period of 1979-1982, the transitional stage of 1983-1986 and the boom and bust uncertainty of 1986-1990. The first period of 1979 to 1982 was known by many as the 'Monetary Experiment' due to the beliefs of the Conservative government and its approach to economics. When Thatcher became prime minister she inherited an economy where inflation was the cause of...
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