Abstract
Many observers attributed the Thatcher government’s third election victory in 1987 to widespread public perception that the government had solved the so-called ‘British disease’ of low growth and high inflation, and ushered in a new era of enterprise culture, transforming Britain into a model for other countries to follow. The Conservative government was said to have pursued a consistent well-thought-out strategy which aimed to slay the dragon of inflation, regenerate enterprise, defeat entrenched special interest groups such as trade unions, promote profits and investment, and generally infuse the economy with a commitment to the market as the supreme arbiter of economic performance.
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