What would Ronald Reagan’s defense of capitalism sound like today?

Below is a hypothetical speech that I believe Ronald Reagan would give to defend capitalism in today’s world. Let us never forget his staunch defense of free markets and always remember his unwavering support of liberty. 

Good evening, my fellow Americans—and friends of freedom around the world. It’s a privilege to stand before you today, not just as a voice from the past, but as a defender of a timeless idea: capitalism. Now, I know that word stirs up all kinds of feelings these days—some cheer it, others jeer it. But let’s set the record straight. Capitalism isn’t just an economic system; it’s the heartbeat of human liberty, the engine of progress, and—yes—the greatest force for good the world has ever known. 

You see, I’ve always believed in the power of the individual. Not the government, not the collective, but you—the farmer in Iowa, the entrepreneur in Silicon Valley, the small business owner keeping the lights on in a tough economy. Capitalism trusts you to dream, to work, to build something better. It doesn’t promise you a handout; it offers you a hand up—a chance to turn your sweat and ingenuity into something real. And in today’s world, with all its gadgets and challenges, that promise is more vital than ever.  

Now, I’ve heard the critics. They say capitalism’s outdated, that it leaves too many behind, that it’s no match for the big problems we face. They point to the shiny promises of socialism or some government-run utopia and say, “Look, here’s the future!” Well, I’ve seen that movie before, and let me tell you, it doesn’t end well. We tried that experiment in the 20th century—central planning, state control, the whole works. What did it give us? Empty shelves, gray conformity, and a lot of broken dreams. Meanwhile, capitalism lifted billions out of poverty, put a computer in your pocket, and sent men to the moon—something I was proud to see in my time. 

Take a look around today. The world’s moving faster than ever—artificial intelligence, electric cars, space travel becoming as common as a Sunday drive. Who’s driving that? Not bureaucrats in some marble building, but innovators, risk-takers, folks with a vision and the freedom to chase it. Companies like Google or Apple didn’t come from a five-year plan—they came from the grit of individuals who bet on themselves and won. That’s capitalism: not perfect, but perfectly human. 

Now, I’ll grant you, it’s not always smooth sailing. We’ve got big corporations cozying up to power, and sometimes the little guy gets squeezed. But the answer isn’t to tear it all down—it’s to double down on what works. Competition, not control. Opportunity, not handouts. When government gets out of the way and lets markets breathe, you see miracles happen. Just look at the American story: a nation of pioneers and tinkerers who turned a wilderness into the envy of the world. We didn’t do that by waiting for permission—we did it by rolling up our sleeves. 

And let’s talk about the world stage. There are folks out there—some in Beijing, some closer to home—who think the future belongs to top-down systems, where the state calls the shots. They’re betting against freedom, and I say they’re betting on the wrong horse. Capitalism isn’t just about dollars and cents—it’s about dignity. It’s about a factory worker in Ohio feeding his family, a coder in India building an app that changes lives, a farmer in Africa selling her crops to the world. That’s the power of free markets: they don’t just create wealth, they spread hope. 

So, to the young people listening tonight—and I know you’re out there, scrolling on those phones of yours—don’t let anyone tell you capitalism’s the villain. It’s not your enemy; it’s your ally. It’s the system that says you’re not a cog in a machine, but a creator with a purpose. Sure, it asks something of you—hard work, responsibility, a little courage. But what it gives back is a chance to write your own story, not just live someone else’s. 

In my day, we faced down communism with faith in freedom, and we won. Today, the threats are different, but the stakes are the same. Will we choose the road of liberty, where individuals chart the course, or will we hand the wheel to those who think they know better? I know where I stand. I stand with the shopkeeper, the inventor, the dreamer. I stand with capitalism—not because it’s flawless, but because it’s free. 

So let’s keep that flame burning, my friends. Let’s prove to the skeptics that the spirit of enterprise still lights the way. Together, we can show the world that the best is yet to come—not through control, but through freedom. Thank you, God bless you, and God bless this great land of opportunity.