Conservatives often look to Ronald Reagan and Donald Trump as defining figures in the modern Republican Party. Reagan, with his optimistic, free-market vision, revitalized the American economy and won the Cold War. Trump, with his unapologetic nationalism and rejection of globalist orthodoxy, reshaped the political landscape in ways still unfolding. But before either of them, there was Calvin Coolidge, a quiet yet formidable president who, in many ways, laid the groundwork for conservative principles long before they became synonymous with the Republican brand. Reagan himself admired Coolidge, and Trump’s economic instincts—particularly his skepticism of unfettered global trade—bear a striking resemblance to Coolidge’s policies. Understanding Coolidge offers conservatives an opportunity to appreciate the continuity of American leadership that prizes economic prosperity, limited government, and a firm national identity.
Coolidge: The Great Conservative Steward
Coolidge, who served as the 30th President from 1923 to 1929, was a man of few words but firm convictions. Coming into the office after the sudden death of Warren G. Harding, Coolidge inherited a nation recovering from the economic turbulence of World War I. Rather than expand government intervention, as Woodrow Wilson had done, Coolidge sought to reduce its influence, believing that America thrived best when individuals were left to their own devices. His tax cuts, deregulation, and insistence on reducing government spending led to one of the most prosperous periods in American history—the Roaring Twenties.
Coolidge’s brand of conservatism was austere yet principled. He saw the federal government’s role as strictly limited, even famously vetoing the McNary-Haugen Farm Relief Bill, which would have subsidized struggling farmers (even though he himself was a farmer). His reasoning? The free market, not government handouts, should determine economic success. This earned him the admiration of later conservatives like Reagan, who frequently referenced Coolidge’s fiscal discipline. Coolidge famously stated, “The business of America is business,” emphasizing his belief in the power of capitalism. His presidency also saw a reduction in the national debt by nearly a third, an accomplishment that today would seem impossible.
Reagan: The Optimistic Heir to Coolidge
Reagan saw in Coolidge a model of economic conservatism and limited government that resonated deeply with his own policies. Reagan, much like Coolidge, inherited an economy in distress. The stagflation of the 1970s had left America in a malaise, much like the postwar economic instability Coolidge faced. Both presidents responded with supply-side economic policies—Coolidge through tax reductions and government spending cuts, and Reagan through a combination of tax cuts and deregulation. Both men oversaw periods of remarkable economic growth as a result.
However, Reagan differed from Coolidge in style and global outlook. While Coolidge remained largely detached from foreign affairs, Reagan took a more proactive stance, particularly in confronting the Soviet Union. Reagan’s cheerful optimism and Hollywood charisma contrasted sharply with Coolidge’s reserved New England demeanor. Yet, at their core, both men shared a fundamental belief in the power of free enterprise and the dangers of big government. Historian Amity Shlaes, in her biography of Coolidge, highlights the direct intellectual link between Coolidge’s policies and Reagan’s tax-cutting agenda, noting that both saw lower taxes as the key to individual prosperity and national strength.
Trump: The Populist Disruptor with Coolidge’s Economic Instincts
Donald Trump, in many ways, is a stark departure from both Coolidge and Reagan in temperament and style. Coolidge was famously reserved and dignified; Trump is brash, combative, and thrives on controversy. Reagan projected an affable, sunny disposition; Trump relishes political brawls and public confrontations. Yet despite these stark differences in personality, Trump’s economic policies, particularly on trade and taxation, bear an unmistakable resemblance to Coolidge’s.
Coolidge’s America-first economic policies emphasized protecting American industry and reducing tax burdens on businesses and individuals. Trump’s aggressive tax cuts and deregulatory agenda echoed these priorities, as did his skepticism toward free trade agreements that he saw as detrimental to American workers. While Reagan embraced free trade as a means of expanding economic freedom globally, Coolidge—like Trump—was more cautious, favoring policies that prioritized American economic strength over international entanglements. Coolidge also signed the Revenue Act of 1926, which slashed the top income tax rate from 46% to 25%, a dramatic move that mirrors Trump’s 2017 Tax Cuts and Jobs Act.
The McKinley Connection: Tariffs and National Identity
Trump has frequently expressed admiration for William McKinley, a Republican president known for his strong protectionist policies. McKinley’s high tariffs and emphasis on American industry resonated with Trump’s America First economic doctrine. Interestingly, Coolidge, though not as aggressive a protectionist as McKinley, also maintained a pragmatic approach to trade. While he signed the Fordney-McCumber Tariff, he was careful not to provoke the kind of economic retaliations that would come later under the Smoot-Hawley Tariff in 1930. This nuanced approach suggests that Coolidge, while not as openly nationalist as Trump, might have found common ground with him on the need for strategic economic protectionism. The Fordney-McCumber Tariff raised rates on imported goods to protect American manufacturing, a move Trump echoed with his steel and aluminum tariffs nearly a century later.
What Would 30, 40, and 45/47 Have Thought of Each Other?
Despite their differences, all three men possessed a distinct sense of humor. Coolidge’s was famously dry and reserved, with infrequent but sharp-witted remarks earning him the nickname “Silent Cal.” Reagan’s humor was warm and self-deprecating, often used to disarm political opponents. Trump, on the other hand, wields humor as a tool for both charm and combat, frequently employing sarcasm and theatrical delivery. Though unique in their styles, their ability to connect with audiences through humor was an underrated yet crucial part of their political appeal.
It is fascinating to speculate on how Coolidge, Reagan, and Trump would have viewed one another. Coolidge, a man of restraint and propriety, might have found Trump’s bombastic persona distasteful. Trump’s aggressive use of executive power and willingness to break norms might have been troubling to Coolidge, who revered constitutional limits and decorum. Yet, Coolidge likely would have respected Trump’s commitment to tax cuts, deregulation, and economic nationalism.
Reagan, as a self-professed admirer of Coolidge, would likely have appreciated Trump’s willingness to challenge the political establishment but may have been wary of his more combative and unrefined approach. Reagan was a master of persuasion and coalition-building (famously working across the aisle with Democrats like Tip O’Neill); Trump thrives on division and direct confrontation. However, both men shared a deep skepticism of entrenched bureaucracies and globalist elites, suggesting that, despite stylistic differences, there would have been significant ideological overlap. Reagan’s ability to communicate conservatism in a palatable, inspirational manner stands in contrast to Trump’s more aggressive messaging, yet both men sought to dismantle the political elite’s hold over the American system.
The Continuity of Conservative Leadership
Coolidge, Reagan, and Trump represent three distinct phases of American conservatism, each shaped by the challenges of their respective eras. Coolidge’s quiet yet firm economic stewardship laid the foundation for later conservative leaders. Reagan took those principles and applied them with a charismatic and visionary touch, revitalizing the conservative movement. Trump, in turn, took the fight directly to the political establishment, embodying a raw populism that resonated with millions of Americans who felt left behind by globalization and cultural decay.
Though their personalities and approaches differed greatly, their legacies share common themes: a belief in limited government, economic nationalism, and the enduring strength of the American people. Before Trump and Reagan, there was Coolidge—a president whose policies continue to inform and inspire conservative thought today.
For further reading about Coolidge, check out Amity Schlaes’ Coolidge (2013) as well as Charles C. Johnson’s Why Coolidge Matters: Leadership Lessons from America’s Most Underrated President (2013).
Michael J. Hout is Editor-in-Chief of Liberty Affair. Based in Warsaw, Poland, he writes about politics, culture, and history. Follow his latest insights on X: @michaeljhout.
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