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| Britain's influence through colonialism promoted a type of government based on the supreme authority of a legislature |
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| a legacy from Thatcher; approach to economic management promoting free markets, free trade, welfare retrenchment, and an attractive investment climate as the end game of every state's politics) |
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| state nationalizes key industries, accepts responsibility to secure low levels of unemployment, expand social services, maintain a steady rate of growth, keep prices stable, and achieved desirable balance of payments and exchange rates |
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| popularized by Thatcher; assumed that their is a "natural rate of unemployment" determined by the labor market itself (unlike Keynesian model, which assumed the level of unemployment could be set and the economy stabilized through he decisions of the government) |
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| parliamentary sovereignty |
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| parliament can make or overturn any law; the executive, the judiciary, and the trhone do not have any authority to restrict of rescind parliamentary action |
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| quasi-governmental bodies |
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| lead conservative party to victory in 1979; mirrors Reagan; cutback social services, privatization, tax cuts, deregulation |
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| lead conservative party to victory in 1979; cutback social services, privatization, tax cuts, deregulation |
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| less gov intervention in economy, but advocates targeted cooperation; education and training; encouragement of research and development, new tech |
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