“The problem with socialism is that eventually you run out of other people’s money.”
– Margaret Thatcher
Margaret Thatcher was the first woman to become the prime minister of the United Kingdom. She was also the country’s longest-serving prime minister in the twentieth century. But she is known more for her conservative leadership, particularly in her fiscal conservatism and tough foreign policy. Decades’ worth of socialism in Britain came to a halt in Margaret Thatcher’s economic revolution. The socialism would later return with a vengeance, but she did temporarily return Britain to the free-market principles of the Scottish economist Adam Smith. She would briefly fight a war in the Falklands – one of the few sources of friction in her relationship with Ronald Reagan. (The other was Ronald Reagan’s deploying troops to Grenada, which still had Queen Elizabeth the Second as its nominal monarch.) Overall, though, Thatcher’s relationship with Ronald Reagan would be a good one, and is rightly remembered fondly in both nations. The two leaders also helped to turn the tide of the Cold War in the free world’s favor, as the Berlin Wall fell during Margaret Thatcher’s tenure. The year after Thatcher left office, the Soviet Union would collapse entirely in 1991.
Margaret Thatcher






