Respuesta :
Socialism does not work because it is not consistent with fundamental principles of human behavior. The failure of socialism in countries around the world can be traced to one critical defect: it is a system that ignores incentives. Under socialism, incentives either play a minimal role or are ignored totally.
The united kingdom stopped the practice of socialism after about three decades with the emergence of Margaret Thatcher.
At that time, he largest manufacturing firms in such industries as autos and steel were owned and controlled by the government.
A large chunk of the housing were owned by the government and the economy of the United Kingdom had grown far less than the economy of other countries in Europe.
One of the major obstruction to the economic reform was the trade unions.
Margaret Thatcher, outlawed the earlier practice of joining a union before secure a job and this crashed the number of union members from 12 million in 1970s to half the size by the end of the 1980s.
Margaret Thatcher enforced privatization as a means of reviving the economy because according to her It was “one of the central means of reversing the corrosive and corrupting effects of socialism".
This bold step led to Britain's economy growing faster than any economy in Europe except that of Spain.
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