( CNN ) -- Margaret Thatcher , one of the seminal political figures of the 20th century , will be remembered for her unswerving belief in the virtues of free market capitalism and the vices of socialism , and for her role in the downfall of communism . People might wonder why Thatcher evokes such positive emotion from young conservatives , such as me , who were children during her heyday . The answer is simple . In our era of politics in which spin seems to take precedence to substance , Margaret Thatcher was an icon for what politics should be about -- courage , spirit and the determination to change things for the better . In pursuit of the defeat of what she saw as socialist totalitarianism , she made a close alliance with U.S. President Ronald Reagan and built a relationship with Soviet leader Mikhail Gorbachev , while still standing firm in opposition to the Soviet empire . Without question , she was one of America 's closest and most important friends and was instrumental in winning the Cold War for the West . Opinion : How 'Lady T ' built transatlantic bridges . She refused to be bowed by terrorism and stood against it in all its forms . After the Irish Republican Army attempted to assassinate her and her Cabinet at the 1984 Conservative Convention in Brighton , narrowly missing Thatcher but killing five people , she insisted on continuing the conference the next day . `` The fact that we are gathered here now , shocked , but composed and determined , is a sign not only that this attack has failed , but that all attempts to destroy democracy by terrorism will fail . '' Her courage brought moral clarity in highlighting the atrocity of terrorism as a means of political activity . Her resolve to stand against any threat to British interests was clear in the Falklands War . After the invasion of British territory by Argentine military forces , Thatcher said it would not stand . Fully knowing the real prospect of defeat , Thatcher ordered a British military task force to re-take the islands . They did . Along with foreign policy successes , Thatcher , known as `` The Iron Lady , '' scored domestically . Facing high unemployment rates , a crippling union stranglehold and an unproductive , stagnating economy , the United Kingdom of the 1970s was a country in dire straits . Thatcher believed that pervasive unemployment and growing inflation were not just temporary threats , they were burying Britain 's future . She believed the root causes were found not in the shifts of economic cycles , but in the failure of Britain 's flawed economic model . Opinion : Why Thatcher made so many enemies . She guided Britain 's economic base away from domestic monopolies and toward global capitalism . Because of her privatization and deregulation policies , the United Kingdom became a center for international finance and investment . In 1987 , Thatcher was elected to a historic third term . Despite her successes politically , she was a polarizing presence and had relatively low approval ratings during her tenure . Many Britons detested her attempts to curb the unions , her cuts to social programs and education , and her introduction of the Community Charge , called the `` poll tax . '' Her Cabinet did not share her views on the European Union . She resigned as prime minister after three terms in 1990 , believing her party had betrayed her . Still , there can be no debate of her enduring impact . Tony Blair 's historic 1997 election and return of the Labor Party to power is often pointed to as a moment of renewed liberalism in Britain . In many ways , it was . But under the banner of a new Labor and Blair 's embrace of a `` third way , '' it is also evident that Thatcher had changed Britain 's economic debate forever . She had moved the political discussion from one of statism versus capitalism to a basic acceptance of free market economics as a standard of British political consensus . Opinion : Why Britain needs another Thatcher . Although many on the British left oppose what Thatcher did and what she stood for , there is a quiet , begrudging perhaps , but unmistakable admiration of her strong and unswerving leadership . History will record Thatcher stood for what she believed , and that both Britain and the world are better for it . The opinions expressed in this commentary are solely those of Tom Rogan .
Margaret Thatcher : Tom Rogan was a close ally of Britain and helped end the Falklands War . Rogan : She stood against terrorism and stood up for U.S. , won the Falklands War . Rogan : Privatization , deregulation and curbing unions revived the British economy . You always knew where she stood and she changed world for the better , he says .