Which 1944 work of Friedrich Hayek is among the most influential expositions of classical liberalism and is stated as the single book that significantly shaped the political ideologies of Margaret Thatcher and Ronald Reagan?
New Right New Right more specifically refers to a strand of Conservatism that the likes of Margaret Thatcher and Ronald Reagan influenced. Thatcher's style of New Right ideology, known as Thatcherism, was heavily influenced by the work of Friedrich Hayek (in particular the book "The Road to Serfdom"). They were ideologically committed to economic liberalism as well as being socially conservative. Key policies included deregulation of business, a dismantling of the welfare state, privatization of nationalized industries and restructuring of the national workforce in order to increase industrial and economic flexibility in an increasingly global market. In the United States, New Right
Social liberalism culture". Trade unions often caused high wages and industrial disruption, while full employment was regarded as unsustainable. Writers such as Milton Friedman and Samuel Brittan, who were influenced by Friedrich Hayek, advocated a reversal of social liberalism. Their policies, which are often called neoliberalism, had a significant influence on Western politics, most notably on the governments of United Kingdom Prime Minister Margaret Thatcher and United States President Ronald Reagan, who pursued policies of deregulation of the economy and reduction in spending on social services. Part of the reason for the collapse of the social liberal coalition was a challenge in