Thatcher was the Prime Minister of the United Kingdom from 1979 to 1990, and her speech is considered to be one of the most important articulations of the principles of free market capitalism.

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In the speech, Thatcher argues that capitalism is the best way to create wealth and prosperity, and that it is essential for individual liberty and freedom. She also criticizes the Labour Party's economic policies, which she believes have led to economic stagnation and decline.

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