thatcherism
/ˈθætʃərɪzəm/
noun
- The political and economic policies associated with British Prime Minister Margaret Thatcher, emphasizing privatization, free markets, and reduced government spending.
- The ideas of thatcherism influenced conservative politics around the world.
- Many people credit thatcherism with lowering inflation, but critics say it increased inequality.
- Thatcherism transformed the British economy by selling state-owned industries to private companies.