"In 1980 and 1981 Mrs Thatcher's team (but not the Cabinet) wrestled with the question of how to stop inflation. The new ingredient was courage. Other governments had enforced restraint or cut proposed spending increases. What was wholly exceptional was a government willing to persevere with, indeed intensify, deflationary measures while the bottom fell out of the market. Austerity in prosperity is merely prudent; austerity in adversity requires the courage to put all ordinary political considerations in temporary abeyance. It was this courage of economic liberalism of 1979, which marked out a new determination by government to govern. The new regime of 1979 had not involved any real test of political will, for economic liberalism was and is as uncontentious as any great reversal of assumptions can be. Few, in 1986, were still sighing for the price, wage, dividend and exchange controls of the 1970s. Changing the economic culture was the easy bit. Reducing inflation by a mixture of fiscal and monetary measures, a problem in financial technology, was a far more desperate business... If 1981 was crucial, which it was, it was as a triumph of political will, not of economic doctrine."