Thatcher was the British Prime Minister of the United Kingdom. She was inspired by Hayek's economic theory in his book called The Road to Serfdom. She was dubbed the Iron Lady for her iron hand type leadership and her tough policies which become known as Thatcherism. Thatcherism attempts to promote low inflation, the small state, and free markets through tight control of the money supply, privatisation and constraints on the labour movement. It is often compared with Reaganomics in the United States. Nigel Lawson, Thatcher's Chancellor of the Exchequer from 1983 to 1989, listed the Thatcherite ideals as "free markets, financial discipline, firm control over public expenditure, tax cuts, nationalism, 'Victorian values', privatisation and a
