Former British Prime Minister Margaret Thatcher (later Baroness Thatcher), who died Monday at the age of 87, was a stalwart figure of the later part of the 20th century. The “Iron Lady”, as she was famously known (later the title of a 2011 film), is the only woman PM Britain has had, and some consider her its most significant leader ever. This is a hard-to-analyse proposition as contexts change. But clearly this British Conservative leader, almost equally loved and loathed, was a phenomenon whose imprint both on British life as well as on the West will be long-lasting.
She privatised industry with a crusader’s zeal, and struck hard at Britain’s hoary trade union movement. This had unprecedented economic, social and political consequences, the foremost being the virtual elimination of the welfare state, and the sensational spread of the market that both stunned and enthralled Britain. The home of the Industrial Revolution changed for good.
The speed of this transformation was cited by many as an example to follow for others in Europe and the developing world, as Britain became more like the United States in key respects than any country in Europe. Mrs Thatcher also won a famous military victory against Argentina over the Falkland Islands. This consolidated her reputation as a decisive, no-nonsense leader, with shades of Indira Gandhi, with whom Lady Thatcher enjoyed a good rapport, despite their doctrinal differences.