Reagan’s presidency revealed the contradictions at the heart of modern conservatism. Rhetorically, he sought to address the concerns of the Religious Right, advocating a “return to spiritual values” as a way to strengthen traditional families and local communities. But in some ways, the Reagan Revolution undermined the very values and institutions conservatives held dear. Intended to discourage reliance on government handouts by rewarding honest work and business initiative, Reagan’s policies inspired a speculative frenzy that enriched architects of corporate takeovers and investors in the stock market while leaving in their wake plant closings, job losses, and devastated communities. Nothing proved more threatening to local traditions or family stability than deindustrialization, insecurity about employment, and the relentless downward pressure on wages. Nothing did more to undermine a sense of common national purpose than the widening gap between rich and poor.

Because of the Iran-Contra scandal and the enormous deficits the government had accumulated, Reagan left the presidency with his reputation somewhat tarnished. Nonetheless, few figures have so successfully changed the landscape and language of politics. Reagan’s vice president, George H. W. Bush, defeated Michael Dukakis, the governor of Massachusetts, in the 1988 election partly because Dukakis could not respond effectively to the charge that he was a “liberal”—now a term of political abuse. Conservative assumptions about the virtues of the free market and the evils of “big government” dominated the mass media and political debates. Those receiving public assistance had come to be seen not as citizens entitled to help in coping with economic misfortune, but as a drain on taxes. During the 1990s, these and other conservative ideas would be embraced almost as fully by President Bill Clinton, a Democrat, as by Reagan and the Republicans.

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