Margaret Thatcher promoted the illusion that capitalism can be saved from its basic contradictions through fiscal and budgetary policies that cut investment in social programmes and increase the amount given directly to big business and the banks.
She clothed the fraud in a pretty petticoat of words called “people’s capitalism” or “share-owning democracy.” On this ideological basis, in the early 1980s she launched a vicious state offensive against the working class. She was supported in this by press baron Rupert Murdoch.
The Thatcher government’s widescale program of privatisation, which
amongst other things included the sell off of British Aerospace, British Leyland, British Telecom, British Gas and other public utilities, as well as the contracting out of work to private companies.
Margaret Thatcher also pretended that she was for Britain. She fought those who were eager to merge completely with the European Union. Her defence of Britain did not amount to upholding the sovereignty of the British people or the peoples of Europe or the world. On the contrary, her defence of Britain reflected the striving of British monopoly capitalism to dominate the world.
Her project was to have Britain dominate a Europe of powerful monopolies.
Thatcher was notorious for, amongst other things, her support for her fellow reactionaries and their massive violations of rights, including the Apartheid regime of South Africa.
She supported the dictatorship of General Augusto Pinochet of Chile She supported the bombing of Tripoli, Libya.
“There is no such thing as society,” Margaret Thatcher once remarked imperiously. She suggests in her statement that in a capitalist society, there is no such thing as the interests of a collective, only the pursuit of individual self-interest.
Life itself however does not conform to her pompous self-serving view. The most important and decisive collective is society itself.