What Is Ronald Reagan's Legacy

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“Mr. Gorbachev, tear down this wall!” Many, if not all, students of history have heard of these famous words. Ronald Wilson Reagan, known as the “Great Communicator,” was the president of the United States during a crucial time in history. The Cold War had continued for years, and the growth of communism across the globe seemed unrelenting. Although there are many memorable events of Reagan’s presidency, such as the removal of the Berlin Wall and the assassination attempt, there are also numerous political and economic legacies that resulted from his term in office. Three main legacies of Ronald Reagan’s presidency involve his foreign policy, judicial system reform, and economic growth policy. One legacy of Ronald Reagan is his foreign policy. Ronald Reagan made a strong entrance onto the world stage when he was inaugurated on January 20, 1981. In fact, on the same day that he was elected, fifty-two American citizens who were being held hostage in Iran were released. This was quite literally the first day Reagan held office. Although this was a great victory, perhaps the greatest foreign policy problem that loomed…show more content…
Reagan believed that small businesses were the backbone of the American economy. Cannon (2000, 736) writes, “Reagan’s principal mission in the presidency, or so he thought, was to rein in a government he considered an obstacle to economic opportunity and human liberty.” Reagan felt that free-market capitalism was being suppressed by a growing government. This perspective was evident in most all of “Reaganomics,” including the areas of tax reform, inflation, and the national debt. Although Reagan was never able to fix the national debt crisis, inflation and unemployment rates fell considerably. As a result of “Reaganomics,” the rate of economic growth and the rise of the stock market augmented significantly due to Reaganomics, and continued growing well into the next president’s
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