From the viewpoint of late 2019, the state of British politics showed that Thatcherism had suffered a "sad fate," according to "The Economist" Bagehot column. As a political-economic philosophy Thatcherism was originally built upon four components: commitment to free enterprise; British nationalism; a plan to strengthen the state by improving efficiency; and a belief in traditional Victorian values especially hard work and civic responsibility. The tone of Thatcherism was establishment bashing, with intellectuals a prime target, and that tone remains sharp today. Bagehot argues that some Thatcherisms have become mainstream, such as a more efficient operation of the government. Others have been sharply reduced, such as insisting that deregulation is always the answer to everything. The dream of restoring traditional values by creating a property-owning democracy has failed in Britain – ownership in the stock market has plunged, as has the proportion of young people who are homebuyers. Her program of privatisation became suspect when it appeared to favour investors rather than customers. Under Tony Blair in the 1990s, it appeared that Labour had joined the Thatcherite parade, but today the anti-Thatcherite left controls that party.