Powellism anticipated, Thatcherism coincided with, changes in economic opinion which occurred very generally among economists, civil servants and financial commentators of all political opinions in face of the economic decline of the 1970s. They were also parts of a struggle for power, victory in which enabled Mrs Thatcher to play radical variations on that patriotic conjunction of freedom, authority, inequality, individualism and average decency and respectability, which had been the Conservative Party's theme since at least 1886 and the aspiration it had maintained through all the resistances it had encountered from, and all the concessions it had made to, the higher thought, collectivist practice and the caution, or reluctance, of its leaders. The Conservative Party under Mrs Thatcher has used a radical rhetoric to give intellectual respectability to what the Conservative Party has always wanted.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "Powellism anticipated, Thatcherism coincided with, changes in economic opinion which occurred very generally among economists, civil servants and financial commentators of all political opinions in face of the economic decline of the 1970s. They were also parts of a struggle for power, victory in which enabled Mrs Thatcher to play radical variations on that patriotic conjunction of freedom, authority, inequality, individualism and average decency and respectability, which had been the Conservative Party's theme since at least 1886 and the aspiration it had maintained through all the resistances it had encountered from, and all the concessions it had made to, the higher thought, collectivist practice and the caution, or reluctance, of its leaders. The Conservative Party under Mrs Thatcher has used a radical rhetoric to give intellectual respectability to what the Conservative Party has always wanted." in the context of "Maurice Cowling, 'Preface to the Second Edition', Mill and Liberalism (1963; 2nd ed., 1990), pp. xxvii-xviii" to mean that wisdom is timeless.