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The Thatcher Supply-Side ‘Miracle’: Myth or Reality?

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  • Nigel M. Healey

Abstract

This paper reviews the main features of the supply-side policies pursued by the Thatcher Government in Britain between 1979 and 1990. It examines the performance of the real economy relative to historical and international trends and discusses the characteristics of a successful supply-side program. It concludes that, while the Thatcher era has yielded important economic benefits, the prerequisites for a sustained increase in the trend rate of output and productivity growth may not have been satisfied.

Suggested Citation

  • Nigel M. Healey, 1992. "The Thatcher Supply-Side ‘Miracle’: Myth or Reality?," The American Economist, Sage Publications, vol. 36(1), pages 7-12, March.
    • Handle: RePEc:sae:amerec:v:36:y:1992:i:1:p:7-12
    DOI: 10.1177/056943459203600102
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    1. Charles Bean & James Symons, 1989. "Ten Years of Mrs. T," NBER Chapters, in: NBER Macroeconomics Annual 1989, Volume 4, pages 13-72, National Bureau of Economic Research, Inc.
    2. Layard, R & Nickell, S, 1989. "The Thatcher Miracle?," American Economic Review, American Economic Association, vol. 79(2), pages 215-219, May.
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