President Ronald Reagan and British Prime Minister Margaret Thatcher implemented a conservative economic policy based on the privatization of state-owned industries and policies based on deregulation, modest tax rates, and limited government spending. According to Commanding Heights Episode 1, did these policies affect commerce and industry in Great Britain and the United States during the 1980s? Why or why not? How did these two leaders affect the globalization of business?

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In the final part of the video "Commanding Heights Episode 1," produced by PBS, the narrator refers to the ways Ronald Reagan and Margaret Thatcher's economic policies and how affected the middle and lower classes of the United States and Great Britain during the 1980s.

It is correct to say that President Ronald Reagan and British Prime Minister Margaret Thatcher implemented a conservative economic policy based on the privatization of state-owned industries and policies based on deregulation, modest tax rates, and limited government spending.

Both government leaders thought the government had controlled the economy for many years and this had produced bad economic results. They thought that the government was not able to own so many enterprises and had to deregulate and privatize the economy. And privatize they did. They privatize the nationalized industries and controlled workers' unions.

Thatcher and Reagan affected the globalization of business in that they supported excessive private investment in companies and allowed the development of new foreign trade agreements such as the GATT.