June 07, 2004

Reagan and Capitalism

Article by Jay Bryant:

It is being restated over and over again in these days of remembrance that Ronald Reagan brought about the collapse of Communism, and there can be no serious doubt that the policies he pursued with regard to the Soviets worked. Neither the mass demonstrations against him in Europe, the carping of his domestic enemies, nor the softer temptations of Mikhail Gorbachev ("See what an improvement I am; help me succeed"), could deter Reagan from firmness in the right, as God gave him to see the right.

But Reagan did more than merely accomplish the negative, defensive goal of defeating communism. He also did something positive, something without which the meaning of the defeat of communism would have much less meaning. Ronald Reagan reinvigorated capitalism.

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By demonstrating, through deregulation, tax cuts, privatization and other initiatives, and most assuredly by the effective use of the bully pulpit that is the presidency, Ronald Reagan fostered a revitalization of capitalism not only in the United States, but also throughout the world.