Posts tagged with: margaret thatcher

As has been mentioned today on the PowerBlog, Margaret Thatcher was a recipient of Acton’s Faith and Freedom Award in 2011. Due to her declining health, she was unable to accept the award in person. Accepting the award in her place was John O’Sullivan, the Executive Editor of Radio Free Europe/Radio Liberty and former senior aide in the Thatcher government. The comments of O’Sullivan on Margaret Thatcher, her government and her character are below.

Lady Margaret Thatcher, former Prime Minister of the United Kingdom of Great Britain, has passed away from an apparent stroke at the age of 87.Margaret_Thatcher

In 2011, the Acton Institute presented Lady Thatcher with its “Faith and Freedom” award which “recognizes an individual who exemplifies commitment to faith and freedom through outstanding leadership in civic, business, or religious life.” Thatcher served as Prime Minister for eleven years, during which time she struggled to reform and stabilize Great Britain’s economy. However, she will likely best be remembered for the role she played, along with Ronald Reagan and Pope John Paul II, in bringing down the Soviet Union’s Communist regime.

Acton will be providing more coverage of Lady Thatcher’s political and economic contributions here on the PowerBlog as the day continues.

In the Washington Times, Nile Gardiner praises Becoming Europe: Economic Decline, Culture, and How America Can Avoid a European Future, the new book by Acton Research Director Samuel Gregg. Gardiner, the director of the Margaret Thatcher Center for Freedom at The Heritage Foundation and a Washington-based foreign affairs analyst for The Telegraph, says Becoming Europe “should be on the desk of every member of the House and Senate who cares about the future of America as a prosperous and free nation.” Gardiner recommends the book for its “rich detail describing the economic and social ‘Europeanization’ of America, from the rise of vast welfare systems to growing skepticism of the merits of the free-enterprise system.” Excerpt from the review:

“Becoming Europe” is a meticulously researched and well-argued thesis that lays out what is at stake for the world’s superpower, as it faces a stark choice between European-style decline or a return to the original vision of America’s Founding Fathers, as well as the classical liberal teachings of Alexis de Tocqueville, Friedrich von Hayek and Adam Smith. Mr. Gregg, who is director of research at the Acton Institute, paints a grim picture of the direction America is taking but, nevertheless, conveys a positive message to his readers. Mr. Gregg argues that while America is indeed on the path to the European model, it can still turn back and avoid the fate that Europe looks doomed to suffer. In many respects, this is an optimistic book based upon faith in America’s ability to renew itself through rediscovering the principles of economic liberty.

I agree with Mr. Gregg’s assessment. As Gallup polling consistently shows, America is still at its core a conservative nation, one that cherishes the foundations of individual liberty. The fire of freedom still burns brighter on this side of the Atlantic than it does in the Old World, where the suffocating supranationalism of the European Union marches on, with the EU heading toward ever-greater political and economic centralization. The European nightmare can be avoided here, however, only if America’s leaders, at both a national and state level, are willing to stand up for economic freedom and reject the destructive ideology of big government. Washington is already on the path to Brussels, Paris and Athens, but it still has an opportunity to reverse course and avoid the road to economic ruin.

Read Nile Gardiner’s full review of Becoming Europe in the Washington Times.

Mats Tunehag has written a blog highlighting the increased popularity and momentum of business as mission throughout the world. He cites an example that probably would not be the first to come to your mind, but is someone we are very familiar with here at Acton. Lady Margaret Thatcher was the recipient of this year’s Faith and Freedom Award. Mr. John O’Sullivan, who accepted the award on her behalf, described it as one that befits Lady Thatcher’s accomplishments in office and following as she tirelessly worked to advance the cause of faith and liberty.

Two things from the blog strike me as significant. One, Lady Thatcher’s remarks quoted in the blog come from 1988. This was well ahead of the current popularity and acceptance of business as mission in Christian circles. Second, is the response made by Jonathan Thornton mentioning Lord Griffiths of Ffastforach as a speech writer for Lady Thatcher. Lord Griffiths has spoken at Acton events and written a monograph. His influence upon economic matters is not insignificant.

For further reading on the topic of Business As Mission, please consider Work: The Meaning Of Your Life by Lester DeKoster and Our Souls At Work, edited by Mark Russell. Russell’s book is listed as the #1 resource from the Work As Worship conference held in Dallas this past November.

A practical man?

On the American Spectator, Acton Research Director Samuel Gregg examines the baleful influence exerted on economic thought and public policy for decades by John Maynard Keynes. Gregg observes that “despite his iconoclastic reputation, Keynes was a quintessentially establishment man.” This was in contrast to free-market critics of Keynes such as Friedrich Hayek and Wilhelm Röpke who generally speaking “exerted influence primarily from the ‘outside’: not least through their writings capturing the imagination of decidedly non-establishment politicians such as Britain’s Margaret Thatcher and West Germany’s Ludwig Erhard.” Perhaps not so surprisingly, many of Keynes’ most prominent devotees are also “insider” types:

The story of Keynes’s rise as the scholar shaping economic policy from “within” is more, however, than just the tale of one man’s meteoric career. It also heralded the surge of an army of activist-intellectuals into the ranks of governments before, during, and after World War II. The revolution in economics pioneered by Keynes effectively accompanied and rationalized an upheaval in the composition and activities of governments.

From this standpoint, it’s not hard to understand why New Dealers such as John Kenneth Galbraith were so giddy when they first read Keynes’s General Theory. Confident that Keynes and his followers had given them the conceptual tools to “run” the economy, scholars like Galbraith increasingly spent their careers shifting between tenured university posts, government advisory boards, international financial institutions, and political appointments — without, of course, spending any time whatsoever in the private sector.

In short, Keynes helped make possible the Jeffrey Sachs, Robert Reichs, Joseph Stiglitz’s, and Timothy Geithners of this world. Moreover, features of post-Keynesian economics — especially a penchant for econometrics and building abstract models that borders on physics-envy — fueled hopes that an expert-guided state could direct economic life without necessarily embracing socialism. A type of nexus consequently developed between postwar economists seeking influence (and jobs), and governments wanting studies that conferred scientific authority upon interventionist policies.

Read Samuel Gregg’s “The Madness of Lord Keynes” on the American Spectator.

The full video of our 21st Annual Dinner is now up: Acton Executive Director Kris Alan Mauren, Kate O’Beirne as master of ceremonies, AU alumnus Gareth Bloor, Bishop Hurley of Grand Rapids, special address by Acton President Rev. Robert A. Sirico, and keynote address by John O’Sullivan. Acton’s Faith and Freedom Award was presented to Mr. O’Sullivan on behalf of Lady Margaret Thatcher, who sent her former advisor and speechwriter in her place.

Part I:

Part II:

Now up for your viewing pleasure, John O’Sullivan’s acceptance of our Faith & Freedom Award on behalf of Margaret Thatcher, and Rev. Robert Sirico’s remarks at the dinner. Mr. O’Sullivan, Lady Thatcher’s speechwriter and advisor, painted a warm, personal portrait of his former boss — at times he had us in stitches, and when he finished, we were all inspired. The dinner was given at the JW Marriott Hotel in Grand Rapids on October 20; if you couldn’t make it, enjoy the videos!

Thursday, October 20, former United Kingdom Prime Minister Margaret Thatcher will be honored with the 2011 Faith & Freedom Award in Grand Rapids. The award will be accepted by former Thatcher adviser John O’Sullivan at Acton’s 21st Annual Dinner. O’Sullivan is currently vice president and executive editor Radio Free Europe/Radio Liberty. Still a close friend of Thatcher, O’Sullivan defined the essence of ‘Thatcherism:’

Thatcherism is a combination of economic liberty, traditional conservative and Christian values, British patriotism, and a strong attachment to the United States and other like-minded countries in the English speaking world. In her intellectual life – her occasional lectures, her reading, her participation in seminars – she has been extremely consistent in her attachment to these ideas.

Religion & Liberty interviewed Thatcher in 1992. For a closer look at her special friendship with President Ronald Reagan, take a look at my review of Nicholas Wapshott’s Ronald Reagan and Margaret Thatcher: A Political Marriage published in 2008.

“The Iron Lady” title was bestowed upon her upon by the Soviet Army newspaper Red Star in 1976 because of her piercing denouncement of communism. Thatcher, who of course loved it, allowed the moniker to stick. Below is a superb video of Thatcher sweeping away the socialist state.

Blog author: jcouretas
posted by on Thursday, October 7, 2010

In the “Wealth Inequality Mirage” on RealClearMarkets, Diana Furchtgott-Roth looks at the campaign waged by “levelers” who exaggerate and distort statistics about income inequality to advance their political ends. The gap, she says, is the “main battle” in the Nov. 2 election. “Republicans want to keep current tax rates to encourage businesses to expand and hire workers,” she writes. “Democrats want to raise taxes for the top two brackets, and point to rising income inequality as justification.”

This is a constant refrain from the religious left, which views the income or wealth gap as evidence of injustice and grounds for reforming political and economic structures. In the video posted here, you’ll see Margaret Thatcher, in her last speech in the House of Commons on November 22, 1990, brilliantly defending her policies against the same charge.

Furchtgott-Roth zeroes in on a recent interview with Robert Reich, Secretary of Labor for President Bill Clinton and now a professor at the University of California, Berkeley.

[Reich said:] “Unless we understand the relationship between the extraordinary concentration of income and wealth we have in this country and the failure of the economy to rebound, we are going to be destined for many, many years of high unemployment, anemic job recoveries and then periods of booms and busts that may even dwarf what we just had.”

Mr. Reich is wrong. He and other levelers exaggerate economic inequality, eagerly, because they rely on pretax income, which omits the 97% of federal income taxes paid by the top half of income earners and the many “transfer payments,” such as food stamps, housing assistance, Medicaid and Medicare. This exaggerated portrait of inequality undergirds the present effort by the Democrats to raise income tax rates for people with taxable incomes of $209,000 a year on joint returns and $171,000 a year on single returns.

A more meaningful measure of inequality comes from an examination of spending. On Wednesday the Labor Department presented 2009 data on consumer spending, based on income quintiles, or fifths. This analysis shows that economic inequality has not increased, contrary to what the levelers contend.

Much of the discussion around this issue from the left uses the data to portray America as a heartless land of haves and have-nots. Here’s a quote from a Sept. 28 AP story on new census data, including income figures:

“Income inequality is rising, and if we took into account tax data, it would be even more,” said Timothy Smeeding, a University of Wisconsin-Madison professor who specializes in poverty. “More than other countries, we have a very unequal income distribution where compensation goes to the top in a winner-takes-all economy.”

Here’s an amazing statistic: The average 2009-10 faculty salary at Wisconsin Madison was $111,100. But the median household income for all Americans in 2007 (a roughly parallel comparison) was just over $50,000. Isn’t something out of whack here? Isn’t this evidence of severe economic injustice demanding structural reform? Sounds to me like the Bucky Badger faculty has been helping itself to second and third helpings at the “winner-take-all” buffet.

The faculty at Prof. Reich’s school do even better on average income: $145,800. I suspect some celebrity professors might even be … above average.

This is from “Capitalism: The Continuing Revolution,” an article by Peter Berger in the August/September 1991 issue of First Things. Emphasis mine.

… recent events have added nothing that we did not know before or, more accurately, should have known as social scientists or otherwise as people attentive to empirical evidence. The crucial fact here, of course, is the vast superiority of capitalism in improving the material standards of living of large numbers of people, and ipso facto the capacity of a society to deal with those human problems amenable to public policy, notably those of poverty. But, if this fact had been clear for a long time, recent events have brought it quite dramatically to the forefront of public attention in much of the world, and by no means only in Europe. It is now more clear than ever that the inclusion of a national economy in the international capitalist system (pace all varieties of “dependency theory”) favors rather than hinders development, that capitalism remains the best bet if one wishes to improve the lot of the poor, and that policies fostering economic growth are more likely to equalize income differentials than are policies that deliberately foster redistribution.

[ ... ]

to opt for capitalism is not to opt for inequality at the price of growth; rather, it is to opt for an accelerating transformation of society. This undoubtedly produces tensions and exacts costs, but one must ask whether these are likely to be greater than the tensions and costs engendered by socialist stagnation. Moreover, the clearer view of the European socialist societies that has now become public radically debunks the notion that, whatever else may have ailed these societies, they were more egalitarian than those in the West: they were nothing of the sort. One must also remember that, comparatively speaking, these European societies were the most advanced in the socialist camp. The claims to greater equality are even hollower in the much poorer socialist societies in the Third World (China emphatically included).

Excerpts from remarks delivered at the Acton Institute annual dinner in Grand Rapids, Mich., on Oct. 29, 2009:

Twenty years ago today, a growing tide of men and women in Eastern Europe and northern Asia were shaking off the miasma that had led so many to imagine that central economic planning could work. The socialist regimes of Eastern and Central Europe—accepted as ontological realities whose existence could not be questioned—were, well, being questioned.

On November 4th, 1989, a million anti-Communist demonstrators took to the street in East Berlin. Three days later the entire East German Politburo resigned. In short order — the sort of event that television journalists live for — a hole appeared in the Berlin Wall, a hole big enough for hope to pour through. The East German borders opened and by Christmas, thousands were dancing atop the dead body of the Leviathan wall, that hideous symbol, tearing at it with bare hands, champagne bottles, hammer and sickles—anything that was available.

How could we in the West have tolerated that Wall in Germany for so long? From our perspective today it is obvious that the wall would eventually fall, but remember that in 1987 when Ronald Reagan called upon Mr. Gorbachev to “tear down this wall,” the international media either ignored his words or criticized them as the simplistic bravado of a Hollywood cowboy. The President’s own advisors were divided, with his National Security Adviser, Colin Powell, objecting to what Reagan planned to say.

It was only after 1989 that President Reagan’s words became iconic. Reagan understood something that many of the Beltway experts had somehow forgotten or never learned — there is, in the human heart, an innate thirst for liberty. I suppose this is so because it is so closely tied to our very nature as creatures fashioned in the image of a free, rational and creative God: We thirst for freedom because we are created for, and called to, freedom and its complement, personal responsibility.

The fall of the Berlin Wall, the fall of Soviet Communism, was a great triumph, but the danger has been and remains that this grand victory some 20 years ago will render complacent the free peoples of the West. The threat today is not a physical wall through the heart of Berlin but walls no mason ever dreamed about or touched.

The American founders understood this: They warned that freedom cannot long endure without virtue, without vigilance. Because our choices are those to be made by intelligent beings who were designed by Intelligence, these choices are not the result of mere instincts like those of animals. They are choices, furthermore, that should be appropriate to creatures whose beginning is purposeful and not random, oriented to the truth of all things.

And that is the scandal of the Berlin Wall — and every barrier like it against liberty. Some are great and others are small, some obvious and others discreet — yet all of them seek to wall us off from our own humanity, to alienate us from the very part of ourselves that cannot be slotted into some planner’s tidy equations, or reduced to the arithmetic of animal appetite.

We are blessed not to live behind walls that would force us to swim shark infested waters, or race through border guard crossings to the sound of bullets striking all around us. And yet the planners, those builders of walls, haven’t given up planning, haven’t given up laying brick upon brick upon brick.

I’m not talking about some secret conspiracy. I’m talking about more mundane things — mundane because they have so long been with us, mundane because—at least until recently — they grew so very gradually, the brick upon brick, the little and now not so little walls rising all around us, innocuously labeled “the mixed economy.”

These walls come in the guise of stimulus packages that distort our markets and our knowledge, that steal away a bit of your future and that of your children by inflationary polices and transgenerational tax liabilities; walls that discourage our charitable impulse and restrict entrepreneurial courage, that encourage fiscal irresponsibility and punish thrift; that encourage vice and envy, that sacrifice liberty for security and, in the devil’s bargain, lose them both.

Last year I noted the frustration and bewilderment that many were experiencing, especially those who believe in and have fought to build the free and virtuous society, a frustration and bewilderment at what we were seeing around us. That was a short time before a whole new political atmosphere took hold. Since then we have seen this breathtaking lurch toward greater centralized planning and redistribution turn into what to many of us feels like a runaway locomotive: Government banks, government mortgage companies, government automobile companies, government healthcare, government religious charities. And all of this is just a warm up for an appropriation of the entire energy sector—cap and trade. Cap and smother would come closer to the truth.

We are compelled to confront the danger of the political-economic scales tipping from productivity to dependency, from business to bureaucracy, from energy to envy, from trade to tariffs, and from creativity and courage to corporate-government collusion, collectivism and cowardice—where more people in society live, not off the noble work of their own hands, but out of the largess of the statist trough.

We might be weary of the struggle, fatigued and discouraged—amazed that people around us just don’t seem to “get it.”

And we would have cause for such pessimism.

Then I remember the years leading up to 1989. The people who brought that victory about were not defeatist or compliant.

A former Hollywood actor, undaunted by ridicule and the compromising lethargy of his own party; a Soviet prisoner, Alexander Solzhenitsyn, reaching from the frozen tundra of the Gulags of the Soviet Empire and wounding the omnivorous bear with a simple pen; an iron lady in England, Margaret Thatcher, who didn’t get the memo about the demise of capitalism and the rise of the Marxist dialectic; a rough and crude Polish shipyard worker, Lech Walesa, who led a workers’ revolt against the Worker’s Paradise, encouraged by another Pole, John Paul II, who on his appearance on the world stage bade the world to throw open the doors to Christ and who, without tanks or military resources, stood face to face with Soviet puppets who literally trembled at his calm articulation of the Truth.

It is a remarkable testament to the human thirst for freedom under such hardship and against such odds—in the midst of deprivation and with guns pointed at them—all they were able to achieve, these mothers and fathers of freedom. Their example calls us not to acquiesce to the softer, more insidious and seductive tyranny of our own time, but to redouble our efforts.

Their example also calls us to remember what too many of us today have forgotten: We are beings with a destiny both in and beyond this world—a destiny which can only be worked out in human freedom.