I'm an intellectual Thatcherite, just as I was an intellectual Powellite, and I think it important that the Conservative party should be in good hands and that it should win elections.
No serious challenge on the Left exists to Third Way thinking anywhere in the world. This is hardly surprising as globalisation punishes hard any country that tries to run its economy by ignoring the realities of the market or prudent public finances. In this strictly narrow sense, and in the urgent need to remove rigidities and incorporate flexibility in capital, product and labour markets, we are all "Thatcherite" now.Peter Mandelson
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