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Hayek's blind spot with regard to politics was clear in the early 1980s when the first Thatcher government, in an attempt to reduce inflation and bring the public finances closer to a balanced budget, was raising interest rates and cutting public spending. As he had done during the 1930s, Hayek attacked these policies as not being severe enough. It would be better, he told me in a conversation we had around this time, if Thatcher imposed a more drastic contraction on the economy so that the wage-setting power of the trade unions could be broken. He appeared unfazed by unemployment, which was already higher (more than three million people) than at any time since the 1930s, and would rise much further if his recommendations were accepted.
John Gray
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I think the SDP really is a very right-wing party. In a funny way it's more right-wing than Mrs. Thatcher because Mrs. Thatcher is an old-fashioned liberal, if you know what I mean, she believes in market forces and small government. But my knowledge and experience of the SDP is that they believe in a centralised system, they believe in a federal Europe in which we would only be a province under Brussels, they believe in retaining the American bases, they want a statutory pay policy so they would govern the wages of everybody without proper negotiation. I think they're a very hard right party and I think the Labour Party which has now got a decent policy as a result of all the work we've done is going to pick up a lot of support this year.
Tony Benn
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I warn you, if Margaret Thatcher wins on Thursday, I warn you not to be ordinary. I warn you not to be young. I warn you not to fall ill. And I warn you not to get old – if Thatcher wins on Thursday.
Neil Kinnock
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Autumn burned brightly, a running flame through the mountains, a torch flung to the trees.
Faith Baldwin
Margaret Thatcher
Creative Commons
Born:
October 13, 1925
Died:
April 8, 2013
(aged 87)
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