Ayn Rand:
“I urge you, as emphatically as I can, not to support the candidacy of Ronald Reagan. I urge you not to work for or advocate his nomination, and not to vote for him. My reasons are as follows: Mr. Reagan is not a champion of capitalism, but a conservative in the worst sense of that word – i.e., an advocate of a mixed economy with government controls slanted in favor of business rather than labor (which, philosophically, is as untenable a position as one could choose – see Fred Kinnan in Atlas Shrugged, pp. 541-2). This description applies in various degrees to most Republican politicians, but most of them preserve some respect for the rights of the individual. Mr. Reagan does not: he opposes the right to abortion. (Ayn Rand Letter IV.2, 1975)”
In a May 23, 1966, letter William Vandersteel, president of the Ampower Corporation, expressed confidence that Reagan could win the presidency in 1968 and enclosed a pamphlet by Ayn Rand titled “Conservatism: An Obituary” written after the 1960 presidential campaign. In the essay Rand argues that many conservatives are opposed to statism but don’t seem to realize the only good alternative is capitalism.
Reagan’s letter:
William Vandersteel
New York, NY
May 23, 1966
Dear Mr. Vandersteel:
Thanks very much for the pamphlet. Am an admirer of Ayn Rand but hadn’t seen this study.
Sincerely,
Ronald Reagan
From Ronald Reagan: A Life in Letters
pp. 281-282