Neoliberalism and UK Conservatism
Channel: British Conservative
Date: 2021-07-21

Neoliberalism is a commonly used buzzword nowadays. It's also the basis of  the UK Conservative party, and many even in Labour. It is clear that Margaret Thatcher , prime minister from 1979 to 1990, created a long lasting consensus. Asked about her greatest victory by a reporter, she answered 'New Labour.'

But few understand its roots in the reaction to the over-mighty trade unionist/ socialist movement that had its heyday in the UK post-WW2. State intervention in previously unimaginable ways was endorsed. There were hundreds of thousands more civil servants all intensely regulating the UK to achieve the aim of 'full employment.' 

But this environment stifled dynamism & business, and created a crisis of high inflation and higher unemployment in the 1970s. Friedrich Hayek and Milton Friedman, both economists, weren't afraid to say why. Friedman to put it crudely said it was because of Keynesianism, and said focusing on controlling the money supply and not being obsessed with full employment would straighten things out. 

Sources: https://en.wikipedia.org/wiki/The_Road_to_Serfdom#Summary 
https://en.wikipedia.org/wiki/Milton_Friedman#Economics 
https://pixabay.com/videos/canary-wharf-london-docklands-dock-24851/ 
https://pixabay.com/vectors/retro-eighties-line-art-1980s-icons-5497918/ 
https://pixabay.com/vectors/face-man-mad-angry-person-smoking-40044/ 
https://pixabay.com/videos/protest-demonstration-rally-people-78445/ https://pixabay.com/videos/bomb-blast-war-weapon-armageddon-62530/
https://pixabay.com/videos/earth-globe-turn-world-global-1236/ 
https://pixabay.com/videos/war-armored-car-weapons-soldier-61413/ 
https://pixabay.com/videos/hand-gesture-person-suit-isolated-69178/ 
https://pixabay.com/videos/house-fire-home-destruction-46503/ 
https://pixabay.com/videos/man-businessman-business-cartoon-56362/ 
https://pixabay.com/photos/vulture-gold-money-coins-business-4212214/
https://pixabay.com/photos/suit-man-laptop-computer-869380/   
https://pixabay.com/photos/infantry-trench-ground-forces-62825/
https://pixabay.com/illustrations/ft-17-renault-ft-17-war-4981084/ 
https://pixabay.com/videos/war-soldiers-ukraine-conflict-army-49158/ 
https://pixabay.com/videos/people-walk-station-traffic-london-11100/ 
https://pixabay.com/videos/canary-wharf-london-england-21471/ 
https://pixabay.com/videos/oil-rig-oil-raw-materials-energy-11945/ 
https://pixabay.com/photos/christmas-nativity-scene-crib-1875885/ 
https://pixabay.com/videos/business-man-cartoon-3d-43167/ 
https://pixabay.com/videos/traffic-traffic-sign-mark-marker-9686/