Neoliberalism Marks a Democratic Shift

The election of Ronald Reagan in the U.S. alongside Margaret Thatcher in the UK in 1980 marked a significant shift toward neoliberalism, ending three decades of social democratic policies that had dominated the West post-World War II. This shift wasn't abrupt; rather, it was the culmination of a deliberate campaign by pro-business interests aiming to regain power, fueled by global conditions and perceived policy failures of the previous blended economy of strong labor unions and social programs. The conservative takeover represented a pivotal departure from the prior era of governance that prioritized broad social welfare and economic equality.