Although London's Fulham is one of the smallest election districts in Britain, last week's by-election there was hailed by many as the most important of Prime Minister Margaret Thatcher's seven years in power. With unemployment in Fulham running at 13%, and many people outraged by a recent government decision to increase pensions by only 55 cents a week, the Conservatives seemed likely to take a beating. Few were surprised, therefore, when Labor's Nick Raynsford won the seat handily. It was Labor's most impressive by- election victory since Thatcher first came to power.
Despite the defeat, the Conservatives were relieved that they...