Don’t believe the myth – Margaret Thatcher ruined egalitarian 1970s Britain

“Monday, May 4 marks the 30th anniversary of arguably the most significant event in post-war British politics: the coming to power of Margaret Thatcher.

The dominant narrative – accepted even by many who consider themselves to be on the left – is that Britain’s economy in the 1970s was in such dire straits that our country urgently needed a change of direction.

Britain, in this account, was the ‘Sick Man of Europe’. The unions and inflation were out of control. Our inefficient nationalised industries were an expensive disaster. The Labour governments of 1974-79 were complete flops. The post-war mixed economy model had failed.

But this narrative is a myth.”

The whole text of the article, here.