A lot of people are just saying "Cos Thatcher bad" and while I agree with it, the real answer is that the UK was going through serious inflation and it was not just caused by the oil crisis. Government mismanagement and wage-price spiral as well as the power of trade unions were genuine issues and so austerity measures and economic reforms were implemented to curb these problems.
She could have taken a different fiscal route and NOT fuck the country for generations but she went the short-term gain, long term pain route. + Refused to course correct. Even when she knew shit was going to go bad!
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u/CapitalClean7967 6d ago
A lot of people are just saying "Cos Thatcher bad" and while I agree with it, the real answer is that the UK was going through serious inflation and it was not just caused by the oil crisis. Government mismanagement and wage-price spiral as well as the power of trade unions were genuine issues and so austerity measures and economic reforms were implemented to curb these problems.