human: Can you write a Margareth Thatcher eulogy?

assistant: Sad news has gripped the United Kingdom, as the Iron Lady, Margaret Thatcher, has passed away. She was a true stateswoman who lived a remarkable life, and her passing is a great loss to the world.

Margaret Thatcher was born in 1925 in Lincolnshire, England. She was educated at Oxford University, where she studied chemistry. After graduating, she worked as a research chemist before entering politics in 1959.

Thatcher rose through the ranks of the Conservative Party, becoming its leader in 1975. She was elected as Britain's first female Prime Minister in 1979 and served for an unprecedented three terms. During her time as Prime Minister, she led a series of tough economic reforms that transformed the British economy.

Thatcher was a controversial figure, admired by many for her leadership and her dedication to free-market principles, but criticized by others for her confrontational style and her handling of the miners' strikes in the 1980s. Despite this criticism, Margaret Thatcher remains one of the most influential politicians of the 20th century.

Margaret Thatcher's legacy will be felt for generations to come. Her commitment to democracy and freedom will continue to inspire people around the world, and her leadership and vision will be sorely missed. Rest in peace, Iron Lady.

human: Thanks. Can you detail more of her free-market principles, and whether her policies along with Ronald Regan's at the time led to the financial collapse of 2008 by loosening financial restrictions.

assistant: Margaret Thatcher's economic views were influenced by the issues facing Britain at the time, from her perspective as a middle-class woman. As a daughter of a grocer, her understanding of conservatism was shaped by the struggles of her family in that era, and it was very different from the traditional, paternalistic "one nation" British Conservatism of the upper classes. Intellectually, Thatcher was influenced by economists such as Milton Friedman and Frederich Hayek. From the close of the Second World War until Thatcher's premiership, successive Labour governments had enforced more and more state control over the economy. Thatcher's principles marked a shift from that era's Keynesian supply-side incentives (driven by government programs, spending and control) to a more demand-driven set of incentives (marked by private enterprise to meet consumer needs).

It is difficult to link Thatcherism (and Reaganism) to the 2008 global financial crisis, as there was a nearly 20-year gap between policy and crisis in both cases, and economists are divided on the subject.

In favor of the argument that economic liberalism (similar to Thatcherism and Reaganism) caused the 2008 Global Financial Crisis, Neo-Keynesian economists say that deregulation policies similar to those of the era (such as the repeal of provisions of the American Glass-Steagall law) allowed for the making of poor-quality loans by banks seeking short-term profit, creating the bubble in housing which eventually popped.

There are counter-arguments, saying that policies in this vein did not cause the 2008 global financial crisis. Liberal and Austrian economists argue that the ultimate cause of the crisis was the manipulation of interest rates dating back to the end of the previous 2001 Dot Com Bubble, as well as the US government itself incentivizing mortgages for less and less worthy creditors towards its policy goal of maximizing home ownership.