Christopher Hitchens on Margaret Thatcher, Ronald Reagan, and Economics (1987)

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• published: 22 Apr 2013
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Margaret Hilda Thatcher, Baroness Thatcher, LG OM PC FRS (née Roberts, 13 October 1925 -- 8 April 2013) was a British politician who was the Prime Minister of the United Kingdom from 1979 to 1990 and the Leader of the Conservative Party from 1975 to 1990. She was the longest-serving British Prime Minister of the 20th century and is the only woman to have held the office. A Soviet journalist called her the "Iron Lady", a nickname that became associated with her uncompromising politics and leadership style. As Prime Minister, she implemented 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 to become Leader of the Opposition and became the first woman to lead a major political party in the United Kingdom. She became Prime Minister after winning the 1979 general election. Upon moving into 10 Downing Street, Thatcher introduced a series of political and economic initiatives intended to reverse high unemployment and Britain's struggles in the wake of the Winter of Discontent and an ongoing recession. 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 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. During this period her support for a 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. After retiring from the Commons in 1992, she was given a life peerage as Baroness Thatcher, of Kesteven in the County of Lincolnshire, which entitled her to sit in the House of Lords. She withdrew from public speaking due to ill health in 2002 following a stroke, and in 2013, she died of another stroke in London at the age of 87. http://en.wikipedia.org/wiki/Margaret_Thatcher Ronald Wilson Reagan (February 6, 1911 -- June 5, 2004) was the 40th President of the United States (1981--1989). Prior to that, he was the 33rd Governor of California (1967--1975), and a radio, film and television actor. Born in Tampico, Illinois, and raised in Dixon, Reagan was educated at Eureka College, earning a Bachelor of Arts degree in economics and sociology. After graduating, Reagan moved first to Iowa to work as a radio broadcaster and then, in 1937, to Los Angeles where he began a career as an actor, first in films and later television. Some of his most notable films include Knute Rockne, All American (1940), Kings Row (1942), and Bedtime for Bonzo (1951). Reagan served as President of the Screen Actors Guild and later as a spokesman for General Electric (GE); his start in politics occurred during his work for GE. Originally a member of the Democratic Party, his positions began shifting rightward in the 1950s, and he switched to the Republican Party in 1962. After delivering a rousing speech in support of Barry Goldwater's presidential candidacy in 1964, he was persuaded to seek the California governorship, winning two years later and again in 1970. He was defeated in his run for the Republican presidential nomination in 1968 and in 1976, but won both the nomination and general election in 1980, defeating incumbent Jimmy Carter. As president, Reagan implemented sweeping new political and economic initiatives. His supply-side economic policies, dubbed "Reaganomics", advocated reducing tax rates to spur economic growth, controlling the money supply to reduce inflation, deregulation of the economy, and reducing government spending. In his first term he survived an assassination attempt, took a hard line against labor unions, and ordered an invasion of Grenada. He was re-elected in a landslide in 1984, proclaiming that it was "Morning in America". His second term was primarily marked by foreign matters, such as the ending of the Cold War, the 1986 bombing of Libya, and the revelation of the Iran-Contra affair. Publicly describing the Soviet Union as an "evil empire", he supported anti-communist movements worldwide and spent his first term forgoing the strategy of détente by ordering a massive military buildup in an arms race with the USSR. Reagan negotiated with Soviet General Secretary Mikhail Gorbachev, culminating in the INF Treaty and the decrease of both countries' nuclear arsenals. http://en.wikipedia.org/wiki/Ronald_reagan