▁ 1 9 7 3 ▁oil ▁shock , ▁high ▁infl ation , ▁industrial ▁un rest ▁and ▁ster ling ▁de valu ation . ▁But ▁ 1 9 7 0 s ▁govern ments ▁lack ed ▁the ▁necessary ▁political ▁will , ▁leadership ▁and ▁the ▁House ▁of ▁Commons ▁majority ▁from ▁which ▁to ▁change ▁the ▁system ▁until ▁the ▁Conserv atives ▁led ▁by ▁Margaret ▁Th atch er ▁won ▁the ▁ 1 9 7 9 ▁general ▁election . ▁ ▁Historic ▁evaluation ▁The ▁events ▁of ▁the ▁ 1 9 3 0 s , ▁and ▁the ▁response ▁of ▁the ▁Labour ▁and ▁National ▁govern ments ▁to ▁the ▁de pression , ▁have ▁generated ▁much ▁historical ▁controvers y . ▁ ▁In ▁the ▁dec ades ▁immediately ▁following ▁the ▁Second ▁World ▁War , ▁most ▁historical ▁opinion ▁was ▁critical ▁of ▁the ▁govern ments ▁of ▁the ▁period . ▁C ertain ▁histor ians , ▁such ▁as ▁Robert ▁Sk idel sky ▁in ▁his ▁Polit icians ▁and ▁the ▁Sl ump , ▁compared ▁the ▁orth odox ▁policies ▁of ▁the ▁Labour ▁and ▁National ▁govern ments ▁unf av ou rab ly ▁with ▁the ▁more ▁radical ▁proto - Ke yn esian ▁measures ▁advoc ated ▁by ▁David ▁Lloyd ▁George ▁and ▁O sw ald ▁Mos ley , ▁and ▁the ▁more ▁inter vention ist ▁and ▁Ke yn esian ▁responses ▁in ▁other ▁econom ies : ▁Franklin ▁Ro ose vel t ' s ▁New ▁De al ▁in ▁the ▁United ▁States , ▁the ▁ ▁Labour ▁government ▁in ▁New ▁Zealand , ▁and ▁the ▁Social ▁Democratic ▁government ▁in ▁Sweden . ▁Since ▁the ▁ 1 9 7 0 s ▁opinion ▁has ▁become ▁less ▁uniformly ▁host