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{{cquote|'''The economic success of the Western world is a product of its moral philosophy and practice. ''The economic results are better because the moral philosophy is superior.''  Choice is the essence of ethics: if there were no choice, there would be no ethics, no good, no evil; good and evil have meaning only insofar as man is free to choose.''' <ref>[http://www.margaretthatcher.org/document/103336 1977 speech by Margaret Thatcher; Zurich Economic Society]</ref>}}  

{{cquote|'''The economic success of the Western world is a product of its moral philosophy and practice. ''The economic results are better because the moral philosophy is superior.''  Choice is the essence of ethics: if there were no choice, there would be no ethics, no good, no evil; good and evil have meaning only insofar as man is free to choose.''' <ref>[http://www.margaretthatcher.org/document/103336 1977 speech by Margaret Thatcher; Zurich Economic Society]</ref>}}  

Thatcher sold many of the nationalized industries back to private investors and made tax cuts. She broke the power of the trade unions which stood in the way of the rationalization of the coal industry and modernization of the newspaper industry. Due to her strong standards and her leadership style, she became known as the "[[Iron Lady]]," a term originally coined as an insult by the communist [[Soviet Union]], but one she adopted. A famous statement of hers was "You turn if you want to, but the lady's not for turning", in reference to calls from within her own party to back down (in the political terminology of the time, "U-turn") on issues that were important to her. Thatcher was always a strong supporter of close relations with the [[United States]], and was a good friend of President [[Ronald Reagan]], uniting with him in actions against the Communists.   

Thatcher sold many of the UK's nationalized industries back to private investors and made tax cuts. She broke the power of the trade unions which stood in the way of industrial progress, especially in the mining, print and shipbuilding industries and the public sector. Due to her strong standards and her leadership style, she became known as the "[[Iron Lady]]," a term originally coined as an insult by the communist [[Soviet Union]], but one she adopted. A famous statement of hers was "You turn if you want to, but the lady's not for turning", in reference to calls from within her own party to back down (in the political terminology of the time, "U-turn") on issues that were important to her. Thatcher was always a strong supporter of close relations with the [[United States]], and was a good friend of President [[Ronald Reagan]], uniting with him in actions against the Communists.   

She led Britain to victory against [[Argentina]] in a 1982 war over Argentinian aggression against the [[Falkland Islands]]. The United States was allied with both countries,  and initially tried to broker a negotiated settlement. When Thatcher rejected the proposed compromise,  the U.S. supported Britain with intelligence information and the supply of advanced AIM-9L Sidewinder missiles. The conflict led to a strong friendship with the Chilean leader [[Augusto Pinochet]] after Chile helped Britain in the conflict. In 1986, she banned the promotion of homosexuality in schools in a piece of legislation known as [[Section 28]].

She led Britain to victory against [[Argentina]] in a 1982 war over Argentinian aggression against the [[Falkland Islands]]. The United States was allied with both countries,  and initially tried to broker a negotiated settlement. When Thatcher rejected the proposed compromise,  the U.S. supported Britain with intelligence information and the supply of advanced AIM-9L Sidewinder missiles. The conflict led to a strong friendship with the Chilean leader [[Augusto Pinochet]] after Chile helped Britain in the conflict. In 1986, she banned the promotion of homosexuality in schools in a piece of legislation known as [[Section 28]].