Ronald reagan

Despite the sharp polarization of American politics, there is surprising agreement on what went wrong with capitalism. Whether the writer or politician is coming at this question from the left or right, the blame often falls on four decades of “small government” ideology and free market orthodoxy since Ronald Reagan and Margaret Thatcher. Whether the flaw in question is slowing productivity growth, the rise of oligopolies, the export of jobs, or income and wealth inequality, its source is traced to excessive faith in the “magic of the market.” Capitalism’s flaws are “market failures.” The problem: this narrative is wrong on the facts.

Let me tell you a ghost story. We are, after all, only a month out from Hallowe’en. It’s about a titan of American politics, who reshaped the nation’s, and the West’s, history over the tail-end of the last century. His leadership helped thaw the Cold War and transform the country’s languishing economy. And now, four decades later, his specter still looms large over the party he recalibrated. Tonight, the GOP’s undercard contenders will clash at the Ronald Reagan Presidential Library in Simi Valley, California. And you can be darn sure his name will come up a lot.In last month’s debate in Milwaukee, Wisconsin, America’s 40th president was the subject of one of many flashpoints between former VP Mike Pence and businessman Vivek Ramaswamy.

The Republican Party has to come to grips with populism. Donald Trump’s commanding lead in the race for the 2024 presidential nomination makes that clear, as does the fact that the next-most popular candidate, Ron DeSantis, also has a populist streak. In fact, the GOP’s base has subscribed to one flavor of populism or another since at least as far back as the start of the Cold War. In the 1950s, Senator Joseph McCarthy’s red-hunting had a pronounced class dimension — elite officials in “striped pants” were a frequent target. By the end of the 1960s, Richard Nixon was appealing to the “silent majority” against a radical campus counterculture. The Moral Majority and other religious right groups of the 1980s and 1990s exhibited a form of Christian populism.

As I reported this summer, Liz Truss’s favourite historian is Rick Perlstein, the great chronicler of the rise of the new right in its Nixonian and Reaganite forms between 1960 and 1980. She told journalists that she read ‘anything’ he wrote. Interviewers noticed Perlstein’s books on her shelves. In a strange compliment to the American historian, Truss or sources close to her briefed The Spectator's Katy Balls with precise (if unacknowledged) quotes from his account of the rise of Ronald Reagan. I sent Perlstein my piece and asked for his thoughts. Let me put it like this: he may be her favourite historian, but she is not his favourite politician. Not even close. Not even in the top 1,000. ‘Liz. Can’t. Read.

“We are Reagan,” a Biden “confidant” tells Axios. After how many hallucinogens, the story doesn’t say. Pretty many would be a fair guess. The story wherein occurred the remarkable comparison never rose more than a foot or so from the ground, likely due to its fantastic nature. Nor was the “confidant” ever identified, possibly to spare his or her children's playground embarrassment. Any comparison of Joseph Robinette Biden and Ronald Wilson Reagan, if it ventures beyond their service in the White House, is about as nutty as comparisons ever get. It might repay us to ask the basis of such a claim, however fruitless.

Cast your mind back to the 1990s for a moment. The left, dispirited at their generation-long rout at the hands of Ronald Reagan and Margaret Thatcher, and enraged by the ratification of limited-government trends at the hands of Bill Clinton and Tony Blair, were looking for a new rallying point. By the end of the decade, the intellectual left had settled upon a new epithet: “neoliberalism.” Although the term was not brand new, it exploded in popularity in left academic journals and soon in left media too. Simply put, “neoliberalism” means “democratic capitalism.

Former vice president Mike Pence spoke to a crowd of college students on Tuesday as part of the Young America’s Foundation National Conservative Student Conference, which Cockburn attended. Pence appeared alongside others, including Kirk Cameron, Ted Cruz, and Ben Carson. When Pence eventually came out, he received a standing ovation and cheers, as warmly welcomed as Cruz had been the night before. He then proceeded to lay out his “freedom agenda” which toed the line between caricature and pander. In a world of sharp wit and cutting remarks, Pence is more like a club. It was not that Pence’s speech was ineloquent, but rather that he trod on old ground that conservatives were already well acquainted with.