With the death of former British Prime Minister Margaret Thatcher conservatives will gush about how her conservatism transformed
from a crumbling socialism into a modern, well functioning state. This will require, of course, ignoring the
fact that Conservatives now in charge of Britain are in the process of
transforming that country into a crumbling economic basket case, but
conservatives do not let actual situations get in the way of a good story.
Expect a torrent of loving tributes, and a glossing over of the failures like this.
But her third term was riddled with setbacks. Dissension over monetary policy, taxes and
place in the European Community (it would later become the European Union)
caused her government to give up hard-won gains against inflation and
unemployment. By the time she was ousted in another Tory revolt — this time
over her resistance to expanding Britain ’s role in a European union
— the economy was in a recession and her reputation tarnished. Britain
But one of the real successes of Thatcherism was her ability to get British government out of the business of business. The control, ownership and operation of major businesses and industries were returned to the private sector. This is something almost everyone can agree is the right policy. Government should regulate enterprises not own them.
So how does this bring Mr. Obama into the picture? Well the President inherited a government that essentially owned companies like AIG, General Motors and Chrysler and he has returned that ownership to the private sector. Oh, just like Ms. Thatcher.
So the recommendation here is that everyone should say to their conservatives friends that “You know, President Obama is just like Margaret Thatcher, trusting in the private sector and ending the Bush administration’s socialism.” Really, do this, it will drive conservatives crazy.