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PODCAST: The legacy of Margaret Thatcher, a growing salary gap

Former Prime Minister Margaret Thatcher as she meets U.K. Prime Minister David Cameron inside Number 10 Downing Street on June 8, 2010 in London, England.

Margaret Thatcher, Britain's first female Prime Minister, died Monday from a stroke. She was 87. Known as the "Iron Lady" for her strong and uncompromising leadership style, Thatcher led a conservative economic resurgence in the U.K. during the 1980s. Thatcher, who served office from 1979 to 1990, reduced the power of labor unions, privatized state-owned airlines, car companies and other assets, and championed financial deregulation. As a result of the so-called "Thatcher revolution," Britain became more entrepreneurial, and according to some, more efficient.

First quarter earnings come out as the stock markets hit all-time highs. But investors could be more interested in what happens the rest of the year. There are two words that sum up Wall street's mood for first quarter earnings: Cautiously optimistic.

A new report out today by the American Association of University Professors reveals a widening salary gap between public and private university professors. Given the dismal outlook of State budgets across the country, public universities will have to find a way to compete for talent with fewer resources than their private counterparts. For a doctoral professor at public research university the average salary this year is $123,393. That same professor at a private university makes just over $167,118. It’s a gap that’s grown since last year.

About the author

Jeremy Hobson is host of Marketplace Morning Report, where he looks at business news from a global perspective to prepare listeners for the day ahead.
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