Thatcherism and alternatives: What future for British capitalism?

Written in the autumn of 1985, this paper argued that the political economy of Britain under Margaret Thatcher had up until then been discussed largely as a national phenomenon, and one that reflected the subordination of industry to financial interests. The paper proposed that the internationalisation of British capital was in fact a crucial part of the strategy to defeat labour and roll back the state, since Thatcherism welcomed inward investment as well as outward, and was supported by industry as well as finance. A left alternative had not only to challenge this strategy at national level, but also to be resolutely internationalist in its theory and practice. [ABSTRACT FROM PUBLISHER]