The end teterovski era (The Financial Times, UK)

Gideon Rachman, 28 April 2009'The British people are totally disillusioned with socialism. Thirty-year experiment has clearly failed - and now the people are ready to try something else'. Reasoned Margaret Thatcher on the eve of his first victory in a General election on 3 may 1979, But now, with the approaching thirtieth anniversary of the move 'the iron lady' at Downing street, many Britons have come to the conclusion: 'failed' yet another 'thirty years 'experiment'. This time, however, we are talking about the Thatcher era.The end of the Thatcher era - an event of global significance. Many steps, first undertaken by her office in Britain, and copied in other countries - privatization, deregulation, tax cuts, the abolition of control over the exchange rate, the attempts to weaken the influence of trade unions and an emphasis on the creation and not wealth distribution.Mrs. Thatcher came to power a year and a half before Ronald Reagan; later between the two leaders struck up 'ideological novel'. But the real triumph of Thatcherism came when these ideas are incredibly rooted in such inhospitable soil as a Soviet or French.In the early 1980s, when Thatcher first time in history, conducted privatization, French President Francois Mitterrand wholesale and retail nationalized banks and large industrial corporations. But if the British Prime Minister vigorously pursued free-market policies, saying 'a lady shouldn't have to stay the course', Mitterrand in 1982 had to be rotated 180 degrees. He completed the tenure as 'privatizatio'.By the end of teterovski era market reforms were in full swing in China, Eastern Europe, India and the USSR. During the last visit as Prime Minister in Gorbachev's 'perestroika' in Russia, Thatcher remarked ironically that the new mayor of Moscow can be called a follower of her own economic guru Milton Friedman (Milton Friedman). Two of her closest advisers published a book with the bold title 'Privatization of the planet' (Privatising the World). Very Ms. Prime Minister triumphantly said: 'no one is afraid to catch 'the British disease'. On the contrary, all lined up for 'British medicine.However, today, nearly 20 years after Thatcher left the Prime Minister's residence, in case the British economy picked up again worse than ever. Almost all which is opposed by Mrs. Thatcher - nationalization, increased taxation, Keynesian economic policy is again in Vogue. Major measures and achievements teterovski era successively dismantled.Her famous decision to lower the upper limit of income tax to 40% already cancelled. Last week the government announced that the maximum tax rate rises to 50% - and, as far as can be judged according to opinion polls, the British strongly support this step. In addition, a major British banks are now actually nationalized - as it occurred in France in the Mitterrand.Among all the reforms of the spirit teterovski era most symbolized the 'big Bang' - the deregulation of the financial sector in 1986, created the preconditions for the flourishing city of London. Today, however, the British stock market 'sank', while the authorities are feverishly implementing measures of regulation of the financial services industry. Once Thatcher said: 'the printing press is stopped once and for all'. But today, the issue resumed, under the specious name of 'quantitative easing restrictions'. Since the doctors won lady Thatcher to speak in public, to protect their heritage or to Orient their remaining 'students' she can't.Thatcherism has gone out of fashion and on a global scale. In 2007, when Nicolas Sarkozy was elected President of France, he tacitly encouraged conversations about what should be perceived as 'the French version of Thatcher'. Today, however, Sarkozy prefers to be photographed with an armful of 'Capital' Marx in his hands. Thatcher admired the freedom of enterprise in the United States. But the American President is, paradoxically, all carefully eyeing the European model of 'social state'.But most importantly, Thatcherism has lost the aura of moral superiority. At the time of the 'iron lady' with a slight threat declared: 'the Economy - only method. Our goal is to change the soul of the people'. It meant that the British should return to traditional values of diligence and thrift. State 'feeders' ended, she warned.However, the notion that the principle teterovski era was a fair reward for hard work, it was, in fact, undermined by such a contradictory picture: people saw bankers who brought their companies to bankruptcy, the award was received millions in bonuses and generous pensions.The same problem arose with foreign 'versions' of Thatcherism. In Russia, privatization was reduced to questionable from a moral point of view 'grabbing' assets nascent layer of oligarchs. In the U.S. the public has long been outraged fabulous salaries of top managers.So can we say that teterovska era ended definitively and irrevocably? Economic disasters and the measures taken by governments in recent months, point to a positive answer.However, the grounds for doubt are saved. The economic policy of the Thatcher was the fruit of many years of reflection future Prime Minister and her advisers. Today's political leaders, in contrast, are used to combat the crisis of any tools that would be handy. Decision on the nationalization of British banks and the resumption of monetary issue are emergency measures, not the result of a carefully thought-out ideological and political program.One of the most famous phrases of Ms. Thatcher was: 'there is no Alternative'. And today, no influential political figure in Britain and the West in General has not formulated a coherent alternative to the free market principles inherited from the Thatcher era. Until this happens, the era of Thatcher cannot be considered finally completed.

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