The other key element of supply-side economics was deregulation. That they were deliberately started or exploited by political troublemakers. The areas in which riots had happened were suffering hihg leevls of unemployment and deprivation. These old, labour-intensive industries were facing challenges from foreign competition and from technological innovation. Employees spend on goods and services produced by businesses.
What was economic realignment? Supply-side economics marked a shift of emphasis rather than a change in policy. Such support kept her going when she said ‘this Lady’s not for turning’. Businesses would compete with each other in the marketplace, which would encouarge improvements and innovation. It identified poverty and race as key components. Just as Thathcerites believed that private individuals were better at spending money than government, it was a core belief that the private sector was more dynamic and efficient than the public sector at running and delivering goods and services.
What activities took place after this realignment? It London one of the financial capitals of the world and allowed it to compete with Wall Street.
Flexible labour makes it easier to fire or hire workers. The ‘Thatcher Revolution’ This approach rested on the belief that Keynesian policies had distorted courswwork operation of the economy by attempting to create demand artificially through demand-side economics.
Britain looked a different place depending on whether you were in Sheffield or London.
What were the successes of economic realignment? This was exacerbated by the fact that these were also areas where young black and Asian people felt the ‘sus law’ meant that the police unfairly targeted them. This gave police offciers permission to stop and search suspected persons if they thought they might commit a crime.
The other key element of supply-side economics was deregulation. Young people could no longer expect to follow their parents into work, causing many to have to move away. It was still part of her broad programme for establishing free enterprise with privatisation and deregulation.
Bus companies were deregulated to encourage competition. What was economic realignment?
Financial services became an important export to the UK. Nevertheless, Thathcer’s ultimate victory from this policy was to see labour abandon its historic Clause IV policy under Tony Blair, and therefore it played a key role in the defeat of socialist ideology. Deregulation for businesses and low taxation encourages enterprise and entrepreneurship. Such support kept her going when she said ‘this Lady’s not for turning’. Balck people and those from ethnic minorities believed that the police unfairly targeted them.
Long-term trends shifted economic actvitiy to the south, changing the face of many cities and towns.
Thatcher () – Revision Notes in A Level and IB History
Supply-Side Economics Deregulation for businesses and low taxation encourages enterprise and entrepreneurship. Britain’s economy was moving away from being based on manufacturing and heavy idnsutry and becoming based on services.
Sus law was then repealed later that year. Between andthere were 9 million shareholders amongst the British public, and 14 major British companies had been privatised.
The foundations of the working class and of the communities they lived in were crumbling. The major turning point however was the sale of British telecom in Sign up to Comment. Where did Thatcher leave privatisation in Britain? The riots in Brixton consisted of hundreds of black youths running riots, burning shops and looting property.
What was the ‘sus law’? It identified poverty and race as key components. Government can tax business and individuals. The Thatcher government’s embraced this shift. The Scarman Report was commissioned coursewoork examine the causes of these riots. In Howe advised Thatcher to leave Liverpool to ‘managed decline’. It also signalled the end of the post-war consensus in State role.