Thatcherism was disastrous 40 years ago, but the new prime minister seems intent on reviving it to meet the crises of 2022
Liz Truss and her likely chancellor of the exchequer, Kwasi Kwarteng, belong to a particular generation, many of whom once asked their parents: “Can a man be prime minister?” Not even four years old when Margaret Thatcher took power, 15 when she lost it and well into adulthood before the Tories were finally defeated, their earliest political awakenings would have taken place against the long backdrop of Thatcherism.
This biographical context is acknowledged in the notorious political tract that Truss and Kwarteng co-authored with Priti Patel, Dominic Raab and Chris Skidmore, Britannia Unchained, published in 2012. “All five authors grew up in a period where Britain was improving its performance relative to the rest of the world,” it says. “The 1980s, contrary to the beliefs of many on the left, were a successful decade for Britain.” Their objective is to resurrect political dreams from their own childhood.
William Davies is a sociologist and political economist. His most recent book is Unprecedented? How Covid-19 Revealed the Politics of Our Economy
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