Thatcher and her capitalist dreamers' next big gamble was a radical shake-up of London’s financial sector. They called it Big Bang. Seemingly overnight, the stuffy old City of London was replaced by a fast-paced world of risk-takers, rule-breakers, and yuppies brandishing mobile phones the size of their head. It was a golden age of capitalism, where fortunes were made at lightning speed and the stakes were just as high.
Nick Leeson was a working-class kid from Watford who arrived at just the right time. By 1995 he was a superstar trader. He was a poster boy for Thatcher’s Britain. Poor kid gets rich. But then something happened that turned him from a hero to a criminal on the run.
Did the very thing that spurred on his success precipitate his downfall? And what did that mean for the Thatcherite revolution. This is a story of the boom and bust of the 80s.
David Dimbleby traces the history of an idea that spans his life. It started on a chicken farm in Sussex, gained traction in the shadows of post-war London and rose to heights of excess in the new champagne bars of the City. It's 2025 and this once radical idea now defines every aspect of life in Britain. An idea that transformed the economy, politics and, ultimately, society itself.
But how did it happen? Who are the little-known people behind it? What did they want? And - as Donald Trump threatens to overturn the global economic system - is the free market here to stay? Or are we entering a new era?
Presenter: David Dimbleby Producer: Jo Barratt Executive Producers and Story Editors: Joe Sykes and Dasha Lisitsina Sound design: Peregrine Andrews Commissioning Editor: Dan Clarke
A Samizdat Audio production for BBC Radio 4