Prudent Investment and Modest Consumption

Abstract

Margaret Thatcher’s attempt to create an ‘enterprise culture’ marks a crucial turning point in British history (Curran & Burrows, 1991; Heelas & Morris, 1992; Hall, 1988). Steeped in the neoliberal ideology of unfettered markets and private property rights, her government’s policies fomented a radical departure from the British politics preceding her time in office. As Anderson notes, her ‘one hundred new pieces of legislation which laid the foundation for this enterprise culture sought to reduce the state’s role in public services, privatize public corporations, and discipline unions to foster business innovation and ultimately expand the economy’ (Anderson et al., 2000, p. 8). But reformation of the marketplace was a means to an end: her goal was to create ‘a new culture — an enterprise culture’ that rewards the entrepreneur and ‘breeds a new generation of men and women who create jobs for others instead of waiting for others to create jobs for them’ (Thatcher, 8 February 1984).