Thatcherism was based on a philosophy of the appropriate role for the state, markets and civil society. The state should undertake only those functions that the market or civil society effectively cannot. And free competition is a better regulator of markets and protector of consumers.
On the shambolic streets of New Delhi a new power is rising. India remains poor, but enjoys rapid economic growth rates and now possesses the world’s fourth largest economy. If New Delhi politicians free their entrepreneurial people, India may join China as a coming superpower.
Globalization has been an extraordinary force for good. China and India are its greatest success stories.