Inside Thatcher's Monetarism Experiment: The Promise, the Failure, the Legacy - Hardcoverby Tim Lankester (Author) In 1979, Margaret Thatcher's new government was faced with rampant double digit inflation, rising unemployment and flatlining economic growth. In response, Thatcher pursued an economic policy which rejected the old orthodoxies and was promoted by only a minority of economists: a policy based on the doctrine of monetarism. Tim Lankester was the private secretary for economic affairs to Thatcher during the early years of her