Thatcherism, Rest in Peace

Although Thatcher died last week, the death blows for Thatcherism were delivered by the financial crisis of 2008. The U.K. hasn’t recovered from the meltdown; unlike the U.S., Britain’s gross domestic product is still below 2008 levels, while fresh banking scandals emerge regularly. Chairing a debate last summer on Thatcher’s legacy, I was struck that every panelist—including one former Thatcher minister—agreed that her ideology should be laid to rest.