European Economy and Political Essay Example | Topics and Well Written Essays - 1500 words

European Economy and Political - Essay Example As Howe (2006) observes, this is quite possibly because irrespective of her downfall and the rise of New Labour, on both political and economic fronts Britain is still living the consequences of Thatcherism. Among these consequences is the outcome of her confrontation with Britain's Labour Unions which effectively culminated in the demise of the latter and contributed to the downfall of the former (Howe, 2006). Whether or not the severe curtailment of the powers of the labour unions were a positive or negative development, just as whether or not Thatcher was singularly responsible for the stated, are questions worthy of exploration. In investigating these questions, the essay shall argue that while Thatcher's politico-economic policies vis--vis trade and labour unions were fundamental to the reduction of their powers, they were not singularly responsible for the stated curtailment. In addition, when analysed from within the parameters of the government's intentions and its economic v ision, there appears to be no other viable option to the reduction of union powers. Whether or not Thatcher's political and economic policies were responsible for the reduction in the powers of Britain's unions is debatable. ... 4 Homeownership rose C. Macroeconomic figures validate Thatcher's union policies. VI. The question of whether or not positive macroeconomic performance indicators allow for an objective determination of whether there were any alternatives to these policies. A. Economic problem was largely linked to strikes. B. As a consequence of continued strike, once powerful industries were virtually destroyed. C. Strikes were at the heart of inflation D. Solution lay in limiting strikes. VII. The only realistic, workable and effective way the government could reduce strikes was by passing laws and policies which imposed a regulatory legal framework upon the very practice of striking. A. Wildcat strikes were outlawed B. Illegal to call strikes without ballots. C. Power to call strikes was severely limited. VIII. Conclusion: In the final analysis, the effectiveness of Thatcher's curtailment of union power must be affirmed. A. Strikes were remarkably reduced. B. Lost workdays were regained. C. Britain was on the road to economic recovery as a direct consequence of the limitations imposed upon union powers. Few political economic trends have been as controversial as has Thatcherism and hardly any British prime ministers possess as debatable a legacy as does Margaret Thatcher. Although ousted from power by he own Conservative Party close to two decades ago, Thatcherism and Thatcher's legacy remain as divisive a subject today as they were throughput the 1980s. As Howe (2006) observes, this is quite possibly because irrespective of her downfall and the rise of New Labour, on both political and economic fronts Britain is still living the consequences of Thatcherism. Among these consequences is the outcome of her confrontation with Britain's Labour Unions which effectively