and arrogance, under the able guidance of Britain's two Prime Ministers, Gladstone and Disraeli. But the "long summer of peace" came to an end in the bloodbath of Flanders. Although Britain suffered far less physical damage than France and underwent no political revolution, World War I may have affected it more fundamentally than any other European power. The war was a catalyst for social and economic change. The mainstays of the Industrial Revolution, such as coal mining, textile production, and shipbuilding, upon which British prosperity had been built, were now impoverished or redundant. British foreign policy for much of the postwar period aimed at rehabilitating Germany, while domestic policy focused on institutionalizing socialism to counter public concerns. In general, these movements were opposed by France and resulted in a rupture between Britain and its wartime ally, forcing France into a position of isolation that would have prodigious consequences for Europe with the rise of Hitler in the 1930s. Margaret Thatcher (1979-1990) set out to end socialism in Britain. Her most dramatic acts consisted of a continuing series of statutes to denationalize nearly every industry that Labour had brought into public ownership during the previous 40 years. Promising that "we shall govern as New Labour," the Blair government installed in general elections in 1997 accepted some of Thatcher's foreign policies but also carried out the economic reforms it promised in its manifesto. In retrospect, the 1990s were a period of transition, controversy and continuity in the United Kingdom, and for the royal family... Europe's oldest surviving monarchy.