Thatcherism describes the conviction politics, economic and social policy, and political style of the British Conservative politician Margaret Thatcher, who was leader of her party from 1975 to 1990. It has also been used by some to describe the beliefs of the British government while Thatcher was Prime Minister between May 1979 and November 1990, and beyond into the governments of John Major, Tony Blair, Gordon Brown and David Cameron.

Thatcherism claims to promote low inflation, the small state and free markets through tight control of the money supply, privatisation and constraints on the labour movement. It is often compared with Reaganomics in the United States, Rogernomics in New Zealand and Economic Rationalism in Australia as a key part of the worldwide neoliberal movement. Nigel Lawson, Thatcher's Chancellor of the Exchequer from 1983 to 1989, listed the Thatcherite ideals as:

Thatcherism is thus often compared to classical liberalism. Milton Friedman claimed that "the thing that people do not recognise is that Margaret Thatcher is not in terms of belief a Tory. She is a nineteenth-century Liberal." Thatcher herself stated in 1983: "I would not mind betting that if Mr Gladstone were alive today he would apply to join the Conservative Party". In the 1996 Keith Joseph memorial lecture Mrs. Thatcher argued that "The kind of Conservatism which he and I...favoured would be best described as ‘liberal’, in the old-fashioned sense. And I mean the liberalism of Mr. Gladstone, not of the latter day collectivists". Thatcher once told Friedrich Hayek: "I know you want me to become a Whig; no, I am a Tory". Hayek believed "she has felt this very clearly".

Margaret Hilda Thatcher, Baroness Thatcher, LG, OM, PC, FRS, née Roberts (born 13 October 1925) is a British politician and the longest-serving (1979–1990) British prime minister of the 20th century, and the only woman ever to have held the post. A Soviet journalist nicknamed her the "Iron Lady", which later became associated with her uncompromising politics and leadership style. As prime minister, she implemented conservative policies that have come to be known as Thatcherism.

Originally a research chemist before becoming a barrister, Thatcher was elected Member of Parliament (MP) for Finchley in 1959. Edward Heath appointed her Secretary of State for Education and Science in his 1970 government. In 1975 Thatcher defeated Heath in the Conservative Party leadership election and became Leader of the Opposition, as well as the first woman to lead a major political party in the United Kingdom. She became prime minister after winning the 1979 general election.

After entering 10 Downing Street, Thatcher introduced a series of political and economic initiatives to reverse what she perceived as Britain's precipitous national decline. Her political philosophy and economic policies emphasised deregulation (particularly of the financial sector), flexible labour markets, the privatisation of state-owned companies, and reducing the power and influence of trade unions. Thatcher's popularity during her first years in office waned amid recession and high unemployment, until economic recovery and the 1982 Falklands War brought a resurgence of support, resulting in her re-election in 1983. Thatcher was re-elected for a third term in 1987, but her Community Charge (popularly referred to as "poll tax") was widely unpopular and her views on the European Community were not shared by others in her Cabinet. She resigned as Prime Minister and party leader in November 1990, after Michael Heseltine launched a challenge to her leadership.

Christopher Eric Hitchens (13 April 1949 – 15 December 2011) was an English American author and journalist whose career spanned more than four decades. Hitchens, often referred to colloquially as "Hitch", was a columnist and literary critic for New Statesman, The Atlantic, The Nation, The Daily Mirror, The Times Literary Supplement and Vanity Fair. He was an author of twelve books and five collections of essays. As a staple of talk shows and lecture circuits, he was a prominent public intellectual, and his confrontational style of debate made him both a lauded and controversial figure.

Hitchens was known for his admiration of George Orwell, Thomas Paine and Thomas Jefferson, as well as for his excoriating critiques of various public figures including Mother Teresa, Bill Clinton, Henry Kissinger and Diana, Princess of Wales. Although he supported the Falklands War, his key split from the established political left began in 1989 after what he called the "tepid reaction" of the Western left to the Rushdie Affair. The September 11 attacks strengthened his internationalist embrace of an interventionist foreign policy, and his vociferous criticism of what he called "fascism with an Islamic face." His numerous editorials in support of the Iraq War caused some to label him a neoconservative, although Hitchens insisted he was not "a conservative of any kind", and his friend Ian McEwan describes him as representing the anti-totalitarian left.

Vernon Bogdanor, CBE, FBA /ˈbɒɡdənɔr/ (born 1943) is Research Professor at the Institute for Contemporary History at King's College London, and a Fellow of Brasenose College, University of Oxford. He is one of Britain's foremost constitutional experts and has written extensively on political and constitutional issues. He is an advocate of constitutional reform including proportional representation, but supports the retention of the British Monarchy.

Educated at Bishopshalt School, Vernon Bogdanor gained his Bachelor of Arts in Philosophy, Politics, and Economics (with congratulatory First Class honours) from The Queen's College, Oxford. He has been Fellow and Tutor in Politics at Brasenose College, Oxford, since 1966, where he has been Senior Tutor (1979–85 and 1996–97), Vice-Principal, and (in 2002-03) Acting Principal. He is a Fellow of the British Academy, and an Honorary Fellow of the Society for Advanced Legal Studies. In 1998 he was awarded the CBE for contributions to constitutional history, and in 2009 he was appointed Chevalier in the Légion d'honneur.

Mark Littlewood is the Director General of the Institute of Economic Affairs (IEA). He has formerly been chief press spokesman for the Liberal Democrats and the Pro Euro Conservative Party.

Littlewood studied Philosophy, Politics and Economics at Balliol College, Oxford and was the Campaigns Director of Liberty from June 2001 to April 2004. When on sabbatical, he became the chief spokesperson of NO2ID. He was appointed as Head of Media for the Liberal Democrats in December 2004. He resigned from this position in May 2007, after saying that the introduction of proportional representation should not be a deal-breaker when negotiating for the Liberal Democrats' involvement in a coalition.

Littlewood was Director of Liberal Vision from 2008 to 2009, a pro-market pressure group, before taking up his position at the Institute of Economic Affairs in December 2009.

Littlewood is regarded as being on the right of the Liberal Democrats. He is a classical liberal who advocates supply side measures such as the deregulation of unemployment law and a competitive business tax regime. He is a supporter of Nick Clegg and the Coalition Government.