Former British Prime Minister Margaret Thatcher has died at the age of 87. Thatcher was Britain’s first female prime minister, serving three terms in office. Known as the “Iron Lady,” Thatcher became synonymous with austerity economics as a close ally of President Ronald Reagan. She famously declared to critics of neoliberal capitalism that “there is no alternative.” Her long-running battle with striking British miners dealt a major blow to the union movement in Britain and ushered in a wave of privatizations. On foreign policy, Thatcher presided over the Falklands War with Argentina, provided critical support to the Chilean dictator Augusto Pinochet, and famously labeled Nelson Mandela a “terrorist” while backing South Africa’s apartheid regime. Tariq Ali discusses her legacy with Amy Goodman on Democracy Now!