"The author argues that Margaret Thatcher's free-market arguments highlighted the economic shortcomings of Keynesianism and socialism and paved the way for a significant realignment of the Conservative Party and re-thinking of British economics."

This paper examines the extent to which the policies towards the welfare state pursued by the Labour Government in its first fifteen months represent a break with those of its Conservative predecessor and with earlier policies put forward by Labour in opposition. Four key parts of its...