Throughout the 1980s and the early 1990s the pages of journals such as this were filled with debate – invariably heated – on the nature, extent, significance and reversibility of Thatcherism. Today the echoes of a once deafening clamour have largely subsided. Thatcherism has all but disappeared from the lexicon of British political analysis. My aim in what follows is to reflect on this passing and what it indicates about the state of our understanding of this once most contentious of phenomena. I do so by considering the two most significant recent additions to the vast literature on the subject, Peter Kerr's Postwar British Politics: From Conflict to Consensus (2001) and Richard Heffernan's New Labour and Thatcherism: Political Change in Britain (2000).1