 Lawson, in his own defence, attributes the boom largely to the effects of various measures of financial deregulation.Insofar as Lawson acknowledges policy errors, he attributes them to a failure to raise interest rates during 1986 and considers that had Margaret Thatcher not vetoed the UK joining the European Exchange Rate Mechanism in November 1985 it might have been possible to adjust to these beneficial changes in the arena of microeconomics with less macroeconomic turbulence.Lawson also ascribes the difficulty of conducting monetary policy to Goodhart's Law.