Margaret Thatcher’s reign over Britain was a pause in the decline of the nation. That is the verdict of almost all the most insightful obituaries that have appeared since her death. She changed Britain, held it for a while as a model to the world of how capitalism can restore wealth and prestige, but did not succeed in reversing its downward trend.

Nevertheless she was one of the British people’s greatest leaders.

Mark Steyn writes:

In Britain in the Seventies, everything that could be nationalized had been nationalized, into a phalanx of lumpen government monopolies all flying the moth-eaten flag: British Steel, British Coal, British Airways, British Rail . . . The government owned every industry — or, if you prefer, “the British people” owned every industry. And, as a consequence, the unions owned the British people. The top income-tax rate was 83 percent, and on investment income 98 percent. No electorally viable politician now thinks the government should run airlines and car plants and that workers should live their entire lives in government housing. But what seems obvious to all in 2013 was the bipartisan consensus four decades ago, and it required an extraordinary political will for one woman to drag her own party, then the nation, and subsequently much of the rest of the world back from the cliff edge.

Thatcherite denationalization was the first thing Eastern Europe did after throwing off its Communist shackles — although the fact that recovering Soviet client states found such a natural twelve-step program at Westminster testifies to how far gone Britain was.

She [Margaret Thatcher] was the most consequential woman on the world stage since Catherine the Great, and Britain’s most important peacetime prime minister. In 1979, Britain was not at war, but as much as in 1940 faced an existential threat.

Mrs. Thatcher saved her country — and then went on to save a shriveling “free world,” and what was left of its credibility. The Falklands were an itsy bitsy colonial afterthought on the fringe of the map, costly to win and hold, easy to shrug off — as so much had already been shrugged off. After Vietnam, the Shah, Cuban troops in Africa, Communist annexation of real estate from Cambodia to Afghanistan to Grenada, nobody in Moscow or anywhere else expected a Western nation to go to war and wage it to win. Jimmy Carter, a ditherer who belatedly dispatched the helicopters to Iran only to have them crash in the desert and sit by as cocky mullahs poked the corpses of U.S. servicemen on TV, embodied the “leader of the free world” as a smiling eunuch. Why in 1983 should the toothless arthritic British lion prove any more formidable?

And, even when Mrs. Thatcher won her victory, the civilizational cringe of the West was so strong that all the experts immediately urged her to throw it away and reward the Argentine junta for its aggression. “We were prepared to negotiate before” she responded, “but not now. We have lost a lot of blood, and it’s the best blood.” Or as a British sergeant said of the Falklands: “If they’re worth fighting for, then they must be worth keeping.”

Mrs. Thatcher thought Britain was worth fighting for, at a time when everyone else assumed decline was inevitable. … [But for her and] anyone with a sense of history’s sweep, the strike-ridden socialist basket case of the British Seventies was not an economic downturn but a stain on national honor.

A generation on, the Thatcher era seems more and more like a magnificent but temporary interlude in a great nation’s bizarre, remorseless self-dissolution.

She was right and they were wrong, and because of that they will never forgive her. … For eleven tumultuous years, Margaret Thatcher did shock them. But the deep corrosion of a nation is hard to reverse …

Not just hard. Impossible. What great power that declined and fell ever rose to greatness again?

America, beware!

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China had to turn to the capitalist model set by Margaret Thatcher to save its economy – which it did, spectacularly. 

But far from acknowledging a debt, this obituary published in China belittles all her achievements, putting her whole career through the Marxist class-analysis mincer.

Petty, mean, and puerile, it is an exercise in Schadenfreude; sneer after sneer concluding with a spiteful joke:

Thatcher grew up in a classical English petty-bourgeois family. Her father owned two grocery shops in Grantham. He preached the word of God, was staunchly patriotic, and became the town’s Mayor from 1945-6. His self-confidence derived from selecting food that commanded a good price and turned a good profit. His daughter, Margaret, also formed her intellectual outlook around the petty proprietor’s fetish for the magical qualities of prices. …

Her marriage to Dennis Thatcher in 1951 elevated her into the ranks of the bourgeoisie. He had inherited his wealth and felt that business distracted him from dabbling in amateur military escapades. He was generally seen as a blithering incompetent buffoon to be shunted out of ears reach, in case some bigoted diatribe escaped his lips, but Margaret dearly loved him and treasured the life opportunities his wealth had opened up for her. Dennis funded her career change from studying the chemical composition of ice cream, to studying to become a barrister …

The 1960s were characterized by an entrenched social-democratic consensus whereby social and economic development was widely seen as the product of an alliance between theclasses. Employment was easy to come by and wages rose, and public housing, health care and education expanded rapidly. This all smacked of communism to Margaret Thatcher, who was allowed to bark vitriol against socialism to the gleeful cheers of her bourgeois-aristocratic colleagues in parliament.

The victory of the mineworkers against the Conservative government in two strikes in 1972 and 1974 led to an election, which the then Prime Minister, Edward Heath, claimed would answer the question “who runs Britain?” He lost the election to a minority Labour government and Margaret Thatcher became the Conservative Party leader in 1975.

The shopkeeper inside her, meant she automatically gravitated toward economic theory based on price. Her ideology imagined a world of free and unrestricted competitive pressures where atomized individuals replace organized workers. The pathway to this free market utopia involved selling off state resources and public housing at prices that were absurdly low. This created a significant constituency within the working and middle classes who suddenly acquired money from nothing. In this way the shopkeeper’s delusion, that an economy is simply a nation of buyers and sellers, was materially anchored in the minds of those who suddenly had loads of money. In this way a significant minority acquired a material stake in Thatcher’s “property owning democracy.” Making goods and services was replaced by selling second hand bricks; producing coal, steel, ships, trains and cars was replaced by speculative instruments conjured up by a Thatcherite tribe of arrogant barrow boys who were encouraged to take over the trading floors of the City of London, elbowing aside the “toffs” in bowler hats, and revolutionizing financial markets in a cocaine fueled [?] speculative orgy.

So severe was the economic dislocation and the scars of social conflict that the government was thrown into deep crisis. However, luck was on the side of Mrs. Thatcher, as President General Galtieri of Argentina used their nation’s historical conflict over British occupation of the Malvinas Islands to launch a war to take them by force. Thatcher dispatched the British fleet and reconquered the Islands, whipping up a wave of jingoistic flag-waving. Riding a new tide of popularity, the real war began. Its objective was to smash the central core of trade union strength, the National Union of Mineworkers. Huge reserves of coal were stockpiled, the police were militarized, and war was declared on millions of British workers. Thatcher proclaimed the miners’ union to be agents of the Soviet Union. When she described them as “the enemy within” she had the look of hysteria in her eyes. The strike lasted a year and was defeated. This was a result of Thatcher’s determination and an impotent response by the majority of Labour and Trade Union leaders. The defeat of the miners union led to greater control by capital over labour and a long period of passive industrial relations.

The greatest nonsense is spoken about Thatcher’s significance in the struggle against what she called “the Evil Empire” of the USSR. The role of the U.S. President Ronald Reagan and Margaret Thatcher was insignificant and peripheral. Even though the Soviet press had given her the name, “the Iron Lady,” of which she was so proud. The collapse of the USSR was a result of internal disintegration and not external pressure. …

May the Iron Lady rust in peace!

China’s prosperity is the result of allowing private enterprise. It makes China a rising world power.