Loosehead
The problems facing the country in the 1970s were directly attributable to attitudes of governments (both Labour and Tory) going back to the 50s.
The trade unions had split into many different factions over the decades, making collective bargaining incredibly difficult.
The problem that Thatcher introduced is that she allowed the pendulum to swing too far in the opposite direction - in favour of employers. I'm sure we wouldn't have had to introduce the minimum wage if management and unions were able to work together, but by the 80s, the unions were largely toothless anarchonisms (Mis-spelled? Probably).
Thatcher was largely successful in curbing the powers of the unions...however, let's not get carried away - whilst ecomonic problems were addressed, social problems which should always be at the heart of the government agenda were left to fester.
No matter how 'Rightist' you are, the effects of the miners strike, Brixton/Toxteth/Poll Tax riots can't be ignored.
...for the first time ever Britain stopped being one cohesive society.
In fact, didn't La Thatch once say that "they're no such thing as society"?
Admittedly, that may have been during her third term when she was, frankly, as mad as a bag full of monkeys.