Women's History Month | Margaret Thatcher

 by Aleicia Zhu

The Iron Lady, a controversial figure, no doubt: did she return Britain to pre-eminence—or ruin the middle class?

Women’s History Month: A series celebrating women from all walks of life. It is The Helix’s tribute to Women’s History Month. However, controversial women must be discussed as well, and that includes Margaret Thatcher.

A portrait of Britain’s Conservative crusader and first female prime minister, Margaret Thatcher [1].

Thatcher’s Ideology

Margaret Thatcher laughs alongside her American counterpart, Ronald Reagan, at the Ottawa Summit [2].

    In the same vein as Ronald Reagan, Thatcher presided over privatization, deregulation, and union reforms. She generally prioritized low taxes and spending but pushed for strong defense measures. Also, Thatcher was not much for consensus; she despised the “New Deal Conservative”, which reflected support for the welfare state and government planning. Instead, she was a Hayekian liberal, and the US was her model society [3]. In the Cold War era, Thatcher would also be virulently opposed to the socialist USSR, thus winning her the moniker “The Iron Lady”. On the whole, her policies were called “Thatcherism” [1].

An Early Life

    Born Margaret Roberts in October 1925, she was the daughter of a Methodist Grantham grocer. As such, the family lived in a close social circle. Support originated from the Church’s ideals of self-help, charitable work, and personal truthfulness; her father was also a local Conservative politician and often discussed issues with her, which would later influence her views. After her state schooling, Roberts obtained a bachelor’s in Chemistry at Somerville College, the women’s branch of Oxford. During her education, she was also active in politics. In 1945, she led a devastating landslide against the opposing Labour party.

    As a young adult, she received a deluge of publicity while running as the youngest female candidate in the UK. These elections would be for the Parliament seat of Dartford. Being a safe Labour seat, Roberts would lose but narrow their margins in 1950 and 1951. In the same year, Margaret Roberts became Margaret Thatcher after marrying the businessman Denis Thatcher. Additionally, she obtained a law degree specializing in taxation, and Thatcher would begin her rise in politics [1].  

Her Maturing Political Career

    In 1959, she was elected as the Member of Parliament for Finchley, and Thatcher would hold this position until she was made a peer in the House of Lords. In 1961, she obtained junior office in Harold Macmillan’s administration and then Education Secretary under Edward Heath. In her tenure, she opposed the counterculture movements and student protests of the 1970s. The Heath administration overall promised to tame the unions and liberalize the markets, but they would become heavily interventionist. Nevertheless, these failures left an opening for Thatcher.

    After the general election loss in 1974, Thatcher replaced Heath for leadership of the Conservative party, making her the first female leader of a major Western political party. She would also capitalize on Labour’s failures; during their rule from 1974 to 1979, the British currency collapsed and the government was forced to negotiate credit from the International Monetary Fund [1]. Then, they were struck by an event that Britons would remember for decades: the Winter of Discontent. Over the winter of 1978-1979, it was as if all of the UK’s ails coalesced. Unions striked for months, conveying that the government had little to no control over its working constituents. In the energy crisis of the 1970s, people froze in their homes. Unemployment remained high [4]. In the ad campaign “Labour Isn’t Working”, the Conservatives would criticize this negligence. For years after, they would continue to remind voters of that winter.  

The Saatchi and Saatchi-made advertisement that helped the Conservatives win the 1979 election [10].

Prime Minister of the UK

    Exhausted by Labour’s failures, the British public voted in a Conservative majority, thus making Margaret Thatcher the Prime Minister of the United Kingdom. In her first term, Thatcher would make resounding economic reform. As in many other Western countries (including the US), the UK had languished in stagflation, where both inflation and unemployment were high [1] This contradicted the Keynesian Phillips Curve but conceded to Milton Friedman’s monetarism. Essentially, the Phillips Curve is a trade-off between inflation and unemployment. However, people came to expect inflation, and there were supply shocks from the oil crisis. Hence, the Phillips Curve shifted [5]. Moreover, the UK was considered the “sick man of Europe”. To heal these woes, the Bank of England jacked up interest rates. It caused a minor recession but calmed inflation [1].

The Keynesian Phillips Curve [5].

    In 1982, Argentina invaded the Falklands, leading to the Falklands War. Nonetheless, it ended rapidly, beginning in April 1982 and ending in June of the same year. Thatcher’s harsh strategy deployed the British Task Force and would lead to a more hawkish foreign policy later on. Because of this victory, the Conservatives would be re-elected in 1983 [1].

Her Second Term

    In her second term, Thatcher was beset with the controversial miners’ strike. An entire year-long, their strike was one of the most violent and enduring in British history. Thatcher would crack down on them, restoring order but also making a move that many would regard as cruel.  

    Simultaneously, Thatcher dealt with the Irish Republican Army at the tail-end of The Troubles. On both sides, there was gratuitous violence and abuse. Margaret Thatcher would take on a harder approach to the IRA, refusing to meet their political demands during the 1980-1981 hunger strikes. In her view, the IRA was an association of terrorists. Spurred by Thatcher’s obstinacy, the Irish would take action. In October 1984, the IRA would bomb her hotel in an attempt to murder her and her cabinet. Thatcher survived unhurt, but some of her colleagues were left dead or injured. Finally, she would negotiate the Anglo-Irish Agreement of 1985. It gave recognition to the Catholics in Northern Ireland, which won the support of the Reagan administration. After all, there was a contingency of Irish-Americans who were sympathetic to the IRA. 

    As for her economic policies, the UK continued to liberalize. Her government began to sell state assets, often by offering shares to the public. Still, these policies disconcerted the left-wing of the Conservative Party. During the Westland Affair, Defence Minister Michael Heseltine resigned, and Thatcher was subject to criticism because of her cooperation with the US military. Regardless, the strong economy won her a third term [1].  

Thatcher’s Third Term—And Downfall

    In her final term, Thatcher enacted ambitious but controversial policies. For instance, she instituted the Community Charge, a new tax system for local government. Called a “poll tax” by her opponents, it was aimed to rein in the spending of Labour councils. Instead, it hit her own constituents [6]. Stepping on her own ideology, communities used it to increase taxes. Additionally, she partially privatized the National Health Service, which has been dubbed a ‘sacred cow’ in British politics. Furthermore, the economy began to overheat in 1988. This forced the central bank to double interest rates. Not to mention, her Euroscepticism shone through; she doggedly opposed pegging the pound sterling to the Deutschmark through the European Exchange Rate Mechanism (ERM). 

Thatcher’s humorous Iron Lady speech [6].

    In addition to her Euroscepticism, Thatcher was harsh on the Soviet Union. During the Cold War, she would lend her support to Reagan’s defense policies. Even so, she would soften as Mikhail Gorbachev came to power. Specifically, the Soviet Union was slowly collapsing, and the administration began privatization as it moved away from socialism. Thanks to this, Thatcher felt her free-market ideology was vindicated; socialism had collapsed, and capitalism won out. 

    Still, Margaret Thatcher’s popularity began to decline. Believing that she was now unelectable, her colleagues almost voted her out. In the leadership election, she won a majority, but that margin was considered insufficient under party rules. Eventually, she resigned as Prime Minister on November 29th, 1990, and Conservative John Major would serve in her post. In May 1997, Tony Blair’s Labour Government would win a landslide [1].  

Life After Prime Minister

    Thatcher would remain active in politics, writing several memoirs and political novels. Additionally, she would go on speaking tours and lectures as many other retired politicians have. In March 2002, she would end these tours because of poor health. Her husband Denis Thatcher died, and her health would decline as well. On April 8th, 2013, Margaret Thatcher would die from a stroke, and she would be honored at St. Paul’s Cathedral 9 days later. Overall, she would be both popular and controversial [1].  

Her Legacy: Conservatives’ View

    Margaret Thatcher was no meek housewife. In opposition to the norms of the 1950s, she was college-educated in chemistry and then graduate-educated in law. Joining the workforce as a scientist, she was determined to be self-sufficient, and she encouraged other women to pursue careers as well. Supporting this notion, she asked "Should a woman arise equal to the task, I say let her have an equal chance with the men for the leading Cabinet posts. Why not a woman chancellor? Or foreign secretary?" [3]. Despite her gender, Thatcher was staunchly outspoken. An excellent orator, she was known for her fiery speeches and steadfast ideology.

Beleaguered by critics, Thatcher pushes back at the 1981 Conservative Party conference [6].

    Her eloquence can be observed in her “U-Turn Speech”, which was in response to those who requested a “U-turn” from her policies. Here, Thatcher utters her most infamous line: “the lady’s not for turning” [8]. Until Theresa May, Thatcher was the only female prime minister of the UK, and even May has channeled her rhetoric [9] Even when Thatcher is attacked, it seldom done in regard to her gender. As such, she showed that it was possible to divest one’s actions from their sex [11].   

    On top of that, Conservatories view her as a defender of the Western World against the USSR; indeed, Thatcher relished the name “The Iron Lady” [1]. During the Falklands War, she fought the junta-run Argentine government to retain a territory that overwhelmingly prefers British oversight [3]. 

    Many exalt her economic policies as well; throughout her runs, she has won the endorsement of The Economist handily. The Economist is no right-wing shop either, it has also endorsed Obama in both his 2008 and 2012 elections [12]. Racked by strike after strike, double-digit inflation, and rising unemployment, British productivity trailed the US and other Western countries. Even an official from the Soviet Union complained of the constant strikes [9]. Britons felt overpowered unions made business unpredictable, and the coal mines were wildly unprofitable. To Conservatives, it was painted as a class war to gain sympathy, but they felt the coal mines needed to modernize. Their connections were unsavory, too. As with the IRA, the unions received funding from the Soviet Union [3]. Britain was the sick man of Europe, and that ended with her tenure. Although some lost jobs, the vast majority saw sizable increases in real income [9].  Moreover, she was advised by Milton Friedman, who was a Nobel Prize Winner and economics professor at the University of Chicago [13].  

    Much of her economic criticisms also come from left-biased outlets, like The Guardian, which endorsed Labour’s Jeremy Corbyn in the 2019 General Election [14]. Jacobin, a socialist publication accused of antisemitism, is similar [15]. In contrast, The Economist and The Financial Times denigrate his hard-left economic policies [16, 17]. Besides economics, eighty-seven percent of British Jews believe that Corbyn is antisemitic, and 47% even considered leaving the country if he was elected [18].  

Her Legacy: Labour’s View

    To Labour, Margaret Thatcher was an uncaring woman who abandoned the common people. For instance, her poll tax hit Mr. WE Jones and his wife, who were retired pensioners. Because of that system, they would over twice what they paid under the old system whereas wealthier people would pay less. In his bombastic letter, he wrote, “You have taken advantage of your position to impose your will upon us to the point where you are now virtually a Dictator riding roughshod over anyone who opposes you”. Clearly, an unhappy citizen [6].  In Argentina, some believe her heavy hand was to defend British imperialism [3].  Likewise, Irishmen felt her actions in Northern Ireland were cruel. The British army also attacked Irish civilians and used propaganda to manipulate public opinion. According to the Irish Times, they even latched onto anti-Catholic sentiments by tying them to the Vatican, further inflaming religious divides between Irish Catholics and Ulster Protestants [19]. 

    Additionally, Labour supporters maintain that her opposition to unions broke the back of the lower classes. In the north, some who lost their jobs never became employed again [9]. Also, research from the National Bureau of Economic Research shows that unions had a significant role in decreasing inequality over the 20th century [20]. Consistent with that, inequality increased over Margaret Thatcher’s rule [21]. Her policies have hurt the poor in other ways. As education minister, Thatcher attempted to cut free milk for school children over 7. Upon this action, Labour MP Willie Hamilton accused her of being a Mrs. Scrooge with a painted face [22]. Most importantly, progressives argue that her economic legacy was not truly robust. Nobel laureate and New York Times economics columnist Paul Krugman asserts that Thatcher should not receive credit for the productivity boom of the Blair years. After all, there was a lag of several years. Keynesian economics is still mainstream, while Austrians are heterodox [23]. 

    Thatcher was no feminist icon either. She felt the government had no role in eliminating the barriers women faced because of her personal responsibility ideology. Theresa May would be the second female prime minister, but she would come over 30 years later. Evidently, Thatcher's example was not enduring [24].  When she was elected in 1979, a bitter argument broke out in the British feminist movement. In the words of feminist magazine Spare Rib, “Mrs. Thatcher is a woman, but she certainly isn’t a sister” [11].   

Final Words

Clips of Thatcher’s speeches compiled by The Wall Street Journal [25].

    Despite her controversies, it is clear that Thatcher was an influential woman who forever changed politics in Britain. Even Labour would feel her grasp; when asked what her great achievement was, Margaret Thatcher replied “Tony Blair and New Labour”. Just as Bill Clinton with the Reagan Era, Tony Blair lived in the shadow of her Thatcher Era [26].

Sources

  1. Margaret Thatcher. (2021). Margaret Thatcher Foundation. https://www.margaretthatcher.org/ 

  2. Ramishvili‌, Levan. (2021, March 31). Margaret Thatcher and Ronald Reagan at Ottawa Summit, July 21, 1981. Flickr. https://www.flickr.com/photos/levanrami/49305572387 

  3. Commanding Heights : Margaret Thatcher. (2021). PBS. https://www.pbs.org/wgbh/commandingheights/shared/minitext/prof_margaretthatcher.html 

  4. ‌Merrell, L. Y. (2017). Book Review: The Winter of Discontent: Myth, Memory, and History. Feminist Review, 115(1), 189–190. https://doi.org/10.1057/s41305-017-0031-5 

  5. Greenlaw, S. A., & Shapiro, D. (2021). The Phillips Curve. OpenStax. https://opentextbc.ca/macroeconomics2eopenstax/chapter/the-phillips-curve/ 

  6. Higham, N. (2016, December 30). National Archives: Thatcher’s poll tax miscalculation. BBC News. https://www.bbc.com/news/uk-38382416 

  7. ‌iconic. (2010). Margaret Thatcher’s Iron Lady speech [YouTube Video]. YouTube. https://www.youtube.com/watch?v=oAgM6YHioxI&ab_channel=iconic 

  8. ‌danco28. (2007). Margaret Thatcher “the Lady’s not for turning” [YouTube Video]. YouTube. https://www.youtube.com/watch?v=rQ-M0KEFm9I 

  9. How Margaret Thatcher Revamped Britain’s Economy. (2013, April 9). NPR.org. https://www.npr.org/2013/04/09/176640365/margaret-thatchers-economy 

  10. How(e) “Labour Isn’t Working” did the job for the Conservatives. (2015). OpenLearn. https://www.open.edu/openlearn/people-politics-law/howe-labour-isnt-working-did-the-job-the-conservatives 

  11. ‌Mrs. Thatcher Divides Feminists: A Woman in Power, but Not “a Sister” (Published 1979). (2021). The New York Times. https://www.nytimes.com/1979/08/27/archives/mrs-thatcher-divides-feminists-a-woman-in-power-but-not-a-sister.html 

  12. There is no alternative (alas). ‌(2005, April 28). The Economist. https://www.economist.com/leaders/2005/04/28/there-is-no-alternative-alas 

  13. ‌Frazer, W. (1982). Milton Friedman and Thatcher’s Monetarist Experience. Journal of Economic Issues, 16(2), 525–533. JSTOR. https://www.jstor.org/stable/4225193?seq=1 

  14. The Guardian view on general election 2019: A fleeting chance to stop Boris Johnson in his tracks. (2019, December 10). The Guardian. https://www.theguardian.com/commentisfree/ng-interactive/2019/dec/10/the-guardian-view-on-general-election-2019-a-fleeting-chance-to-stop-boris-johnson-in-his-tracks 

  15. No, Margaret Thatcher Didn’t Save the British Economy. (2020). Jacobin Magazine. https://www.jacobinmag.com/2020/12/margaret-thatcher-british-economy-tories-austerity 

  16. The Economist. (2019, December 5). Britain’s nightmare before Christmas. The Economist; The Economist. https://www.economist.com/leaders/2019/12/05/britains-nightmare-before-christmas 

  17. The editorial board. (2019, December 5). Britain’s fateful election offers no good choices. Financial Times. https://www.ft.com/content/d4868a48-169d-11ea-9ee4-11f260415385 

  18. ‌Booth, W. (2019, November 26). Britain’s chief rabbi blasts Labour Party for anti-Semitic “poison.” Washington Post; The Washington Post. https://www.washingtonpost.com/world/europe/britains-chief-rabbi-blasts-labour-party-for-anti-semitic-poison/2019/11/26/d8c47e46-105b-11ea-924c-b34d09bbc948_story.html 

  19. ‌Cormac, R. (2018, May 17). Secrets and lies: Britain’s dirty war in Ireland. The Irish Times; The Irish Times. https://www.irishtimes.com/culture/books/secrets-and-lies-britain-s-dirty-war-in-ireland-1.3498924 

  20. ‌Farber, H., Herbst, D., Kuziemko, I., Naidu, S., Haque, O., Marti, C., Moore, B., Kantor, T., Wickett, A., Zytnick, J., Alba, F., Devnani, D., Jacome, E., Marchetti-Bowick, E., Oskoui, A., Gabriela, P., Paro, V., Pearson, A., Tandon, S., & Bakija, J. (2018). Unions and Inequality Over the Twentieth Century: New Evidence from Survey Data. https://www.nber.org/system/files/working_papers/w24587/w24587.pdf 

  21. Albertson, K., & Stepney, P. (2019). 1979 and all that: a 40-year reassessment of Margaret Thatcher’s legacy on her own terms. Cambridge Journal of Economics. https://doi.org/10.1093/cje/bez037 

  22. Why is free milk for children such a hot topic? (2011, November 20). BBC News. https://www.bbc.com/news/uk-15809645 

  23. Did Thatcher Turn Britain Around? (2013, April 9). Paul Krugman Blog. https://krugman.blogs.nytimes.com/2013/04/08/did-thatcher-turn-britain-around/

  24. Cox, E. (2013, April 9). Margaret Thatcher was a reformer and trailblazer—but not a feminist. The Conversation. https://theconversation.com/margaret-thatcher-was-reformer-and-trailblazer-but-not-a-feminist-13344 

  25. ‌Wall Street Journal. (2013). Highlights From the Iron Lady’s Speeches [YouTube Video]. YouTube. https://www.youtube.com/watch?v=mwzCvuj8XXA&ab_channel=WallStreetJournal 

  26. The lasting legacy of Mrs Thatcher. (2015). Financial Times. https://www.ft.com/content/100a5d78-a040-11e2-88b6-00144feabdc0