Margaret Thatcher Quotes

In politics, If you want anything said, ask a man. If you want anything done, ask a woman.

Don't follow the crowd, let the crowd follow you.

The problem with socialism is that you eventually run out of other people's money.

Being powerful is like being a lady. If you have to tell people you are, you aren't.

Look at a day when you are supremely satisfied at the end. It's not a day when you lounge around doing nothing; it's a day you've had everything to do and you've done it.

You may have to fight a battle more than once to win it.

I am extraordinarily patient, provided I get my own way in the end.

Do you know that one of the great problems of our age is that we are governed by people who care more about feelings than they do about thoughts and ideas.

If you just set out to be liked, you will be prepared to compromise on anything at anytime, and would achieve nothing.

I always cheer up immensely if an attack is particularly wounding because I think, well, if they attack one personally, it means they have not a single political argument left.

When I'm out of politics I'm going to run a business, it'll be called rent-a-spine

Europe was created by history. America was created by philosophy.

It used to be about trying to do something. Now it's about trying to be someone.

I do not know anyone who has gotten to the top without hard work. That is the recipe. It will not always get you to the top, but it will get you pretty near.

To wear your heart on your sleeve isn't a very good plan; you should wear it inside, where it functions best.

Watch your thoughts, for they will become actions. Watch your actions, for they'll become... habits. Watch your habits for they will forge your character. Watch your character, for it will make your destiny.

If you set out to be liked, you will accomplish nothing.

For 3 million you could give everyone in Scotland a shovel, and we could dig a hole so deep we could hand her over to Satan in person. (on Margaret Thatcher)

I usually make up my mind about a man in ten seconds, and I very rarely change it.

Being democratic is not enough, a majority cannot turn what is wrong into right. In order to be considered truly free, countries must also have a deep love of liberty and an abiding respect for the rule of law.

Plan your work for today and every day, then work your plan

I am extraordinarily patient provided I get my own way in the end.” - Margaret Thatcher

Of course it's the same old story. Truth usually is the same old story.

Socialists are happy until they run out of other people's money.

No-one would remember the Good Samaritan if he'd only had good intentions; he had money as well.

Christmas is a day of meaning and traditions, a special day spent in the warm circle of family and friends.

Consensus: “The process of abandoning all beliefs, principles, values, and policies in search of something in which no one believes, but to which no one objects; the process of avoiding the very issues that have to be solved, merely because you cannot get agreement on the way ahead. What great cause would have been fought and won under the banner: ‘I stand for consensus?

In the end, more than freedom, they wanted security. They wanted a comfortable life, and they lost it all – security, comfort, and freedom. When the Athenians finally wanted not to give to society but for society to give to them, when the freedom they wished for most was freedom from responsibility, then Athens ceased to be free and was never free again.

To those waiting with bated breath for that favorite media catchphrase, the U-turn, I have only this to say, ‘You turn if you want; the lady’s not for turning.

If you set out to be liked, you would be prepared to compromise on anything at any time, and you would achieve nothing." ~ Margaret Thatcher

I'm back... and you knew I was coming. On my way here I passed a cinema with the sign 'The Mummy Returns'.

I think we've been through a period where too many people have been given to understand that if they have a problem, it's the government's job to cope with it. 'I have a problem, I'll get a grant.' 'I'm homeless, the government must house me.' They're casting their problem on society. And, you know, there is no such thing as society. There are individual men and women, and there are families. And no government can do anything except through people, and people must look to themselves first. It's our duty to look after ourselves and then, also to look after our neighbour. People have got the entitlements too much in mind, without the obligations. There's no such thing as entitlement, unless someone has first met an obligation.

Do you know, one of the greatest problems of our age is that we are governed by people who care more about feelings than they do about thoughts and ideas? Now, thoughts and ideas, that interests me.

I wasn't lucky, I deserved it.

What we have witnessed in our own time is the death of universities as centres of critique. Since Margaret Thatcher, the role of academia has been to service the status quo, not challenge it in the name of justice, tradition, imagination, human welfare, the free play of the mind or alternative visions of the future. We will not change this simply by increasing state funding of the humanities as opposed to slashing it to nothing. We will change it by insisting that a critical reflection on human values and principles should be central to everything that goes on in universities, not just to the study of Rembrandt or Rimbaud.

There are significant differences between the American and European version of capitalism. The American traditiionally emphasizes the need for limited government, light regulations, low taxes and maximum labour-market flexibility. Its success has been shown above all in the ability to create new jobs, in which it is consistently more successful than Europe.

The facts of life are conservative.

Any leader has to have a certain amount of steel in them, so I am not that put out being called the Iron Lady.

If you want something spoken about, ask a man. If you want something done, ask a woman.

She lives on the fumes of whiskey and the iron in the blood of her prey.

We have not noticed how fast the rest has risen. Most of the industrialized world--and a good part of the nonindustrialized world as well--has better cell phone service than the United States. Broadband is faster and cheaper across the industrial world, from Canada to France to Japan, and the United States now stands sixteenth in the world in broadband penetration per capita. Americans are constantly told by their politicians that the only thing we have to learn from other countries' health care systems is to be thankful for ours. Most Americans ignore the fact that a third of the country's public schools are totally dysfunctional (because their children go to the other two-thirds). The American litigation system is now routinely referred to as a huge cost to doing business, but no one dares propose any reform of it. Our mortgage deduction for housing costs a staggering $80 billion a year, and we are told it is crucial to support home ownership, except that Margaret Thatcher eliminated it in Britain, and yet that country has the same rate of home ownership as the United States. We rarely look around and notice other options and alternatives, convinced that "we're number one.

Power is like being a lady... if you have to tell people you are, you aren't.

well it used to be about trying to do something, now it is about trying to be someone

If you want something said, ask a man; if you want something done, ask a woman.

The slow cancellation of the future has been accompanied by a deflation of expectations. There can be few who believe that in the coming year a record as great as, say, the Stooges’ Funhouse or Sly Stone’s There’s A Riot Goin’ On will be released. Still less do we expect the kind of ruptures brought about by The Beatles or disco. The feeling of belatedness, of living after the gold rush, is as omnipresent as it is disavowed. Compare the fallow terrain of the current moment with the fecundity of previous periods and you will quickly be accused of ‘nostalgia’. But the reliance of current artists on styles that were established long ago suggests that the current moment is in the grip of a formal nostalgia, of which more shortly. It is not that nothing happened in the period when the slow cancellation of the future set in. On the contrary, those thirty years has been a time of massive, traumatic change. In the UK, the election of Margaret Thatcher had brought to an end the uneasy compromises of the so-called postwar social consensus. Thatcher’s neoliberal programme in politics was reinforced by a transnational restructuring of the capitalist economy. The shift into so-called Post-Fordism – with globalization, ubiquitous computerization and the casualisation of labour – resulted in a complete transformation in the way that work and leisure were organised. In the last ten to fifteen years, meanwhile, the internet and mobile telecommunications technology have altered the texture of everyday experience beyond all recognition. Yet, perhaps because of all this, there’s an increasing sense that culture has lost the ability to grasp and articulate the present. Or it could be that, in one very important sense, there is no present to grasp and articulate anymore.

Consensus is the process of abandoning all beliefs, principles, values and policies in search of something in which no one believes, but to which no one objects. - Margaret Thatcher.

Freedom will destroy itself if it is not exercised within some sort of moral framework, some body of shared beliefs, some spiritual heritage transmitted through the Church, the family, and the school.

Then she said, with mock horror, "She's going to bring some of her old wigs, if you can believe it." She rubbed her bare head with her free hand. "I'll look like a zombie Margaret Thatcher.

When people are free to choose, they choose freedom

Just because you disagreed with the Poll Tax and detested Margaret Thatcher—" "Detest is a little inappropriate," Parlabane said. "Maybe closer to say I spent the entire Eighties wishing I was pissing on her rotting corpse.

The key to life,’ said Banecroft, ‘is looking and acting like you know exactly what you are doing at all times. Margaret Thatcher said that.’ ‘Did she really?’ He turned and raised an eyebrow. ‘No, but thank you for having proved my point.

The truths of the Judaic-Christian tradition, are infinitely precious, not only, as I believe, because they are true, but also because they provide the moral impulse which alone can lead to that peace, in the true meaning of the word, for which we all long. . . . There is little hope for democracy if the hearts of men and women in democratic societies cannot be touched by a call to something greater than themselves.

It pays to know the enemy - not least because at some time you may have the opportunity to turn him into a friend.

Left-wing zealots have often been prepared to ride roughshod over due process and basic considerations of fairness when they think they can get away with it. For them the ends always seems to justify the means. That is precisely how their predecessors came to create the gulag.

Of course, to be a mother and a housewife is a vocation of a very high kind. But I simply felt that it was not the whole of my vocation. I knew that I also wanted a career. A phrase that Irene Ward, MP for Tynemouth, and I often used was that ‘while the home must always be the centre of one’s life, it should not be the boundary of one’s ambitions’.

I don't think there will be a woman prime minister in my lifetime.

The Russians are bent on world dominance, and they are rapidly acquiring the means to become the most powerful imperial nation the world has seen. The men in the Soviet Politburo do not have to worry about the ebb and flow of public opinion. They put guns before butter, while we put just about everything before guns.

For every idealistic peacemaker willing to renounce his self-defence in favour of a weapons-free world, there is at least one warmaker anxious to exploit the other's good intentions.

Socialists cry “Power to the people”, and raise the clenched fist as they say it. We all know what they really mean - power over people, power to the State.

Standing in the middle of the road is very dangerous; you get knocked down by the traffic from both sides.

Well, there’s a lot to react against! [in response to the accusation that she was a reactionary]

Being powerful is like being a lady… if you have to tell people you are, you aren’t.” —Margaret Thatcher

They might have beaten us at our national sport, but we managed to beat them at their national sport twice in the 20th century. [Replying to Kenneth Clarke, who said, "Isn't it terrible about losing to the Germans at our national sport?" when England lost to Germany in the 1990 FIFA World Cup Semi-final.]

From this cascade comes a prediction: getting too little sleep across the adult life span will significantly raise your risk of developing Alzheimer’s disease. Precisely this relationship has now been reported in numerous epidemiological studies, including those individuals suffering from sleep disorders such as insomnia and sleep apnea.VIII Parenthetically, and unscientifically, I have always found it curious that Margaret Thatcher and Ronald Reagan—two heads of state that were very vocal, if not proud, about sleeping only four to five hours a night—both went on to develop the ruthless disease. The current US president, Donald Trump—also a vociferous proclaimer of sleeping just a few hours each night—may want to take note.

Some Socialists seem to believe that people should be numbers in a State computer. We believe they should be individuals. We are all unequal. No one, thank heavens, is like anyone else, however much the Socialists may pretend otherwise. We believe that everyone has the right to be unequal but to us every human being is equally important.

Fuck Margaret Thatcher, I said when I could catch my breath. And I say it again now: fuck Margaret Thatcher, and fuck every idiot who thinks that way. I can take them all to a place where they will eat those words or die of thirst. Because when the taps run dry, society becomes very real.

Law and order is a social service. Crime and the fear which the threat of crime induces can paralyse whole communities, keep lonely and vulnerable elderly people shut up in their homes, scar young lives and raise to cult status the swaggering violent bully who achieves predatory control over the streets. I suspect that there would be more support and less criticism than today's political leaders imagine for a large shift of resources from Social Security benefits to law and order - as long as rhetoric about getting tough on crime was matched by practice.

Fackelmann claimed to have started a Log just to keep track of Kite's attempted pickup lines -- surefire lines like e.g. 'You're the second most beautiful woman I've ever seen, the first most beautiful woman I've ever seem being former Bristish Prime Minister Margaret Thatcher,' and 'If you came home with me I'm unusually confident that I could achieve an erection,' and said that if Kite wasn't still cherry at twenty-three and a half it was proof of some kind of divine-type grace.

Thatcher once said that if she were a visitor from Mars required to create a constitutional system, "I would set up ... a hereditary monarchy, wonderfully trained, in duty and in leadership which understands example, which is always there, which is above politics, for which the whole nation has an affection and which is a symbol of patriotism.

Margaret Thatcher once said, “Watch your thoughts, for they become words. Watch your words, for they become actions. Watch your actions, for they become habits. Watch your habits, for they become your character. And watch your character, for it becomes your destiny!

SO NOW IT’S 1979. Year of the Goat. The Earth Goat. Here are some things you might remember. Margaret Thatcher had just been elected prime minister. Idi Amin had fled Uganda. Jimmy Carter would soon be facing the Iran hostage crisis. In the meantime, he was the first and last president ever to be attacked by a swamp rabbit. That man could not catch a break.

Look at a day when you are supremely satisfied at the end. It’s not a day when you lounge around doing nothing; it’s when you’ve had everything to do, and you’ve done it

My migraine aura was now so severe that the world on the left had ceased to exist, except as an intermittent yellow flash.

Although she didn't have the plumbing, she deluded herself that she was the modern W.C. (about Margaret Thatcher, M.T.)

The man was more highly strung than Margaret Thatcher on the rag, God rest her.

God, what a depressing day that was and what an irony that Britain’s first female prime minister had to be Margaret Thatcher. She was the woman who asked, ‘What has feminism ever done for me?’ Well, dear, if you need to ask that question then you’re obviously not very bright

Now, I have always wanted to agree with Lady Bracknell that there is no earthly use for the upper and lower classes unless they set each other a good example. But I shouldn't pretend that the consensus itself was any of my concern. It was absurd and slightly despicable, in the first decade of Thatcher and Reagan, to hear former and actual radicals intone piously against 'the politics of confrontation.' I suppose that, if this collection has a point, it is the desire of one individual to see the idea of confrontation kept alive.

Why, then, were there no photographs of Margaret Thatcher and Helmut Kohl holding hands at the Brandenburg Gate to match the pictures of Kohl and François Mitterrand at Verdun in 1984? Because Thatcher literally carried in her handbag maps showing German expansion under the Nazis. This was a mental cartography that English conservatism could not transcend – the map of a Europe that may no longer exist in reality but within which its imagination remains imprisoned. ‘Europe,’ Barnett writes, ‘moved on from the Second World War and Britain didn’t.’ One might go so far as to say that England never got over winning the war.

What I said was Britain was ready for another Hitler, which is quite a different thing to saying it needs another Hitler. I stand by that opinion - in fact I was ahead of my time in voicing it. There are in Britain right now parallels with the rise of the Nazi Party in pre-war Germany. A demoralised nation whose empire had disintegrated." Two years later, Margaret Thatcher was elected. - Quoting David Bowie from 1977

As Prime Minister between 1979 and 1990 I had the opportunity to put these convictions into effect in economic policy - We intended policy in the 1980s to be directed towards fundamentally different goals from those of most of the post-war ear. We believed that since jobs (in a free society) did not depend on government but upon satisfying customers, there was no point in setting targets for 'full' employment. Instead, government should create the right framework of sound money, low taxes, light regulation and flexible markets (including labour markets) to allow prosperity and employment to grow.

If my critics saw me walking over the Thames they would say it was because I couldn't swim.

In politics, if you want something said, ask a man; if you want something done, ask a woman

The migraine angel leaned hard on my shoulder and belched into my face.

I felt a wish to be fictionalized.

Call no man happy. Call no man happy until he has gone down to his grave in peace.

The study showed women who were slower to smile in corporate life were perceived as more credible." As Missy talked, I began to think about history-making women like Margaret Thatcher, Indira Gandhi, Golda Meir, Madeleine Albright, and other powerful women of their ilk. Not one was known for her quick smile. Missy continued, "The study went on to say a big, warm smile is an asset. But only when it comes a little slower, because then it has more credibility." From that moment on,

Some in Westminster have talked about her receiving a state funeral when she dies, which seems a bizarre sort of tribute to someone who believed the state should do as little as possible. It would be far more appropriate to allow competitive bids from private companies to run the funeral arrangements. 'And we now go over live to Westminster, where state leaders are lining up for Lady Thatcher's funeral sponsored by McDonald's. And there we see the coffin respectfully borne on the shoulders of six part-time burger-flippers dressed in the official Ronald McDonald costume, before the private cremation when the body will be flame-grilled with gherkins and a slice of cheese.' It's what she would have wanted.

[M]ore than they wanted freedom, the Athenians wanted security. Yet they lost everything—security, comfort, and freedom. This was because they wanted not to give to society, but for society to give to them. The freedom they were seeking was freedom from responsibility. It is no wonder, then, that they ceased to be free. In the modern world, we should recall the Athenians' dire fate whenever we confront demands for increased state paternalism.

1. Success is a choice. -Rick Pitino 2. Success in life comes not from holding a good hand, but in playing a poor hand well. -Warren Lester 3. I shall tell you a great secret, my friend. Do not wait for the last judgment; it takes place every day. -Albert Camus 4. If you're not fired up with enthusiasm, you'll be fired with enthusiasm. -Vince Lombardi 5. There is no security on this earth; there is only opportunity. -Douglas MacArthur 6. Yesterday's the past and tomorrow's the future. Today is a gift, which is why they call it the present. -Bill Keane 7. Show me a thoroughly satisfied man and I will show you a failure. -Thomas Edison 8. When you get to the end of your rope tie a knot and hang on. -Franklin D. Roosevelt 9. The best way to predict your future is to create it. -Author unknown 10. I always remember an epitaph which is in the cemetery at Tombstone, Arizona. It says, "Here lies Jack Williams. He done his damnedest." I think that is the greatest epitaph a man can have. -Harry S Truman 11. Triumph? Try Umph! -Author unknown 12. You hit home runs not by chance but by preparation. -Roger Maris 13. If you don't have enough pride, you're going to get your butt beat every play. -Gale Sayers 14. My mother taught me very early to believe I could achieve any accomplishment I wanted to. The first was to walk without braces. -Wilma Rudolph 15. You may have to fight a battle more than once to win it. -Margaret Thatcher

I think we have gone through a period when too many children and people have been given to understand 'I have a problem, it is the government's job to cope with it!' or 'I have a problem, I will go and get a grant to cope with it!'; 'I am homeless, the government must house me!' and so they are casting their problems on society and who is society? "There is no such thing! There are individual men and women and there are families, and no government can do anything except through people and people look to themselves first. "It is our duty to look after ourselves and then also to help look after our neighbour and life is a reciprocal business and people have got the entitlements too much in mind without the obligations.

And I will go on criticising Socialism, and opposing Socialism because it is bad for Britain (...) It’s the Labour Government that have brought us record peace-time taxation. They’ve got the usual Socialist disease – they’ve run out of other people’s money.

In general, more nonsense was written about the so-called ‘feminine factor’ during my time in office than about almost anything else. I was always asked how it felt to be a woman Prime Minister. I would reply: ‘I don’t know: I’ve never experienced the alternative.

If you want something said,ask a man;if you want something done,ask a woman.

It's a funny old world.

Thirty years ago [written 2009], over-regulation, over-taxation, mis-regulation, statism, state corporatism, and economic folly, cosiness and regulatory capture, and a crescent ideological enemy without, who were assisted by enemies – both fifth columnists and useful fools – within, had led to a crisis of confidence in the West, and in all lands that – and amongst all peoples, particularly those who were oppressed in their own lands, who – loved and desired liberty. Of course, thirty years ago, Britain had Margaret Thatcher to turn to.

I remembered the young man with his broad white smile and his ashen hair streaked with gold; the basted perfection of his firm flesh, and the grace of his hand clasping mine. I slotted the notes back inside, slid my purse away, and wondered: which of my defects did he notice first?

In the spring of 1990 I flew to Aspen, Colorado, to cover a summit meeting between Prime Minister Margaret Thatcher and President George Herbert Walker Bush. This fairly routine political event took on sudden significance when, on the evening before the talks were scheduled to begin, Saddam Hussein announced that the independent state of Kuwait had, by virtue of a massive deployment of military force, become a part of Iraq. We were not to know that this act—and the name Saddam Hussein—would dominate international politics for the next decade and more, but it was still possible to witness something extraordinary: the sight of Mrs. Thatcher publicly inserting quantities of lead into George Bush’s pencil. The spattering quill of a Ralph Steadman would be necessary to do justice to such a macabre yet impressive scene.

Many things in this period have been hard to bear, or hard to take seriously. My own profession went into a protracted swoon during the Reagan-Bush-Thatcher decade, and shows scant sign of recovering a critical faculty—or indeed any faculty whatever, unless it is one of induced enthusiasm for a plausible consensus President. (We shall see whether it counts as progress for the same parrots to learn a new word.) And my own cohort, the left, shared in the general dispiriting move towards apolitical, atonal postmodernism. Regarding something magnificent, like the long-overdue and still endangered South African revolution (a jagged fit in the supposedly smooth pattern of axiomatic progress), one could see that Ariadne’s thread had a robust reddish tinge, and that potential citizens had not all deconstructed themselves into Xhosa, Zulu, Cape Coloured or ‘Eurocentric’; had in other words resisted the sectarian lesson that the masters of apartheid tried to teach them. Elsewhere, though, it seemed all at once as if competitive solipsism was the signifier of the ‘radical’; a stress on the salience not even of the individual, but of the trait, and from that atomization into the lump of the category. Surely one thing to be learned from the lapsed totalitarian system was the unwholesome relationship between the cult of the masses and the adoration of the supreme personality. Yet introspective voyaging seemed to coexist with dull group-think wherever one peered about among the formerly ‘committed’. Traditionally then, or tediously as some will think, I saw no reason to discard the Orwellian standard in considering modern literature. While a sort of etiolation, tricked out as playfulness, had its way among the non-judgemental, much good work was still done by those who weighed words as if they meant what they said. Some authors, indeed, stood by their works as if they had composed them in solitude and out of conviction. Of these, an encouraging number spoke for the ironic against the literal mind; for the generously interpreted interest of all against the renewal of what Orwell termed the ‘smelly little orthodoxies’—tribe and Faith, monotheist and polytheist, being most conspicuous among these new/old disfigurements. In the course of making a film about the decaffeinated hedonism of modern Los Angeles, I visited the house where Thomas Mann, in another time of torment, wrote Dr Faustus. My German friends were filling the streets of Munich and Berlin to combat the recrudescence of the same old shit as I read: This old, folkish layer survives in us all, and to speak as I really think, I do. not consider religion the most adequate means of keeping it under lock and key. For that, literature alone avails, humanistic science, the ideal of the free and beautiful human being. [italics mine] The path to this concept of enlightenment is not to be found in the pursuit of self-pity, or of self-love. Of course to be merely a political animal is to miss Mann’s point; while, as ever, to be an apolitical animal is to leave fellow-citizens at the mercy of Ideolo’. For the sake of argument, then, one must never let a euphemism or a false consolation pass uncontested. The truth seldom lies, but when it does lie it lies somewhere in between.

Michael Heseltine, a wild-haired visionary, Klaus Kinski to Margaret's Thatcher's Werner Herzog, pushed Docklands across the Thames to the East Greenwich Peninsula. The Millennium Dome concept was a remake of 'Fitzcarraldo', a film in which suborned natives (expendable extras) drag a paddle steamer over a hill in order to force a short cut to more exploitable territory. The point being to bring Enrico Caruso, one of the gods of opera, to an upstream trading post. An insane achievement mirrored in the rebranding of the Dome, after its long and expensive limbo, as the O2 Arena, a popular showcase for cryogenic rock acts:Norma Desmond divas and the resurrected Michael Jackson, whose virtual rebirth,post-mortem, gave the shabby tent the status of a riverside cathedral.

In North America, there is no nostalgia for the postwar period, quite simply because the Trente Glorieuses never existed there: per capita output grew at roughly the same rate of 1.5–2 percent per year throughout the period 1820–2012. To be sure, growth slowed a bit between 1930 and 1950 to just over 1.5 percent, then increased again to just over 2 percent between 1950 and 1970, and then slowed to less than 1.5 percent between 1990 and 2012. In Western Europe, which suffered much more from the two world wars, the variations are considerably greater: per capita output stagnated between 1913 and 1950 (with a growth rate of just over 0.5 percent) and then leapt ahead to more than 4 percent from 1950 to 1970, before falling sharply to just slightly above US levels (a little more than 2 percent) in the period 1970–1990 and to barely 1.5 percent between 1990 and 2012. Western Europe experienced a golden age of growth between 1950 and 1970, only to see its growth rate diminish to one-half or even one-third of its peak level during the decades that followed. [...] If we looked only at continental Europe, we would find an average per capita output growth rate of 5 percent between 1950 and 1970—a level well beyond that achieved in other advanced countries over the past two centuries. These very different collective experiences of growth in the twentieth century largely explain why public opinion in different countries varies so widely in regard to commercial and financial globalization and indeed to capitalism in general. In continental Europe and especially France, people quite naturally continue to look on the first three postwar decades—a period of strong state intervention in the economy—as a period blessed with rapid growth, and many regard the liberalization of the economy that began around 1980 as the cause of a slowdown. In Great Britain and the United States, postwar history is interpreted quite differently. Between 1950 and 1980, the gap between the English-speaking countries and the countries that had lost the war closed rapidly. By the late 1970s, US magazine covers often denounced the decline of the United States and the success of German and Japanese industry. In Britain, GDP per capita fell below the level of Germany, France, Japan, and even Italy. It may even be the case that this sense of being rivaled (or even overtaken in the case of Britain) played an important part in the “conservative revolution.” Margaret Thatcher in Britain and Ronald Reagan in the United States promised to “roll back the welfare state” that had allegedly sapped the animal spirits of Anglo-Saxon entrepreneurs and thus to return to pure nineteenth-century capitalism, which would allow the United States and Britain to regain the upper hand. Even today, many people in both countries believe that the conservative revolution was remarkably successful, because their growth rates once again matched continental European and Japanese levels. In fact, neither the economic liberalization that began around 1980 nor the state interventionism that began in 1945 deserves such praise or blame. France, Germany, and Japan would very likely have caught up with Britain and the United States following their collapse of 1914–1945 regardless of what policies they had adopted (I say this with only slight exaggeration). The most one can say is that state intervention did no harm. Similarly, once these countries had attained the global technological frontier, it is hardly surprising that they ceased to grow more rapidly than Britain and the United States or that growth rates in all of these wealthy countries more or less equalized [...] Broadly speaking, the US and British policies of economic liberalization appear to have had little effect on this simple reality, since they neither increased growth nor decreased it.