Go back, for a moment, nearly 30 years. In March 1987, Margaret Thatcher visited Mikhail Gorbachev, the reforming leader of the Communist Party of the Soviet Union, in Moscow. Sitting in the Kremlin, the two argued for hours. At one point, Mr. Gorbachev accused Mrs. Thatcher of leading the party of the “haves” and of fooling the people about who really controlled the levers of power. The Iron Lady had an answer: “I explained,” she wrote in her memoirs, “that what I was trying to do was create a society of ‘haves,’ not a class of them.”
In the era of Ronald Reagan and Margaret Thatcher, those words carried conviction. There was plenty of argument, of course, about whether the means they chose were the best and about the fate of those who got left behind. But even critics reluctantly had to agree about which way history was heading: The society of “haves” in the West was growing; state socialism was imploding.