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What if Jim Callaghan won the UK election and defeated Thatcher, either by calling a 1978 election or winning in 1979? What would be the effects? How would the UK economy have been effected? Would Thatcherism still be put in lace at some point(though probably under a different name) or would Uk politics be more left-wing? How would Callaghan's term go? How would he handle the Falklands(would the war still occur)? How would the UK Labour Party be effected? Would Labour be more electorally successful? I heard that Callaghan was a centrist Labour leader, a 1970s Blairite and could have if given a better chance expanded Labour's electorate. Or would Lbaour have still gone to the leftin the 1980s? what would happen to the Tories? What would be the effects? What if?