Presidents' Day: Ronald Reagan

George Will: Ronald Reagan’s greatest legacy consists of what is no longer there.

WASHINGTON -- One measure of a leader's greatness is this: By the time he dies the dangers that summoned him to greatness have been so thoroughly defeated, in no small measure by what he did, it is difficult to recall the magnitude of those dangers, or of his achievements. So if you seek Ronald Reagan's monument, look around, and consider what you do not see [the Iron Curtain]. [SNIP]

A democratic leader's voice should linger in his nation's memory, an echo of his exhortations. Reagan's mellifluous rhetoric lingers like a melody that evokes fond memories. Because of demagogues, rhetoric has a tainted reputation in our time. However, Reagan understood that rhetoric is central to democratic governance. It can fuse passion and persuasion, moving free people to freely choose what is noble.

Jack Myers:and no longer there:

Financial Times Managing Editor Lionel Barber was reporting from Washington during the Reagan years. “Reagan was more popular on Main Street than Wall Street,” Barber reminded me in a conversation earlier this week. “Big corporations looked questionably at his tax cuts and other economic measures. He set in motion a period of deregulation that is still living with us, and his policies reshaped the U.S. economy in banking, communications, media, and many other areas.” Reagan’s economic policies contributed greatly to the creation of the cable television industry, companies like Turner Broadcasting, Viacom and News Corporation. Reagan’s economic policies supported entrepreneurial initiatives, creating an environment that spawned most of the big cable networks, several important print titles, the videogame industry, and the earliest stages of Internet development.

“In some ways the era of deregulation that began in the Reagan years led to the Internet bubble,” Barber points out. “Deregulation was seen as a panacea. It meant certain agencies like the Federal Communications Commission were starved of funds in 1990s and didn’t enforce laws as rigorously as they might have. While careful deregulation is a plus for the economy,” said Barber, “Reagan’s attitude that deficits don’t matter was not a good idea. Deficits do matter.” But, he added, “Reagan’scan-do capitalism was good for country.”