Final answer:
Reagan suggested that communism was nearing its end as it had failed to deliver on its promise to improve workers' lives, setting the stage for democratic revolutions in the late 1980s.
Step-by-step explanation:
When Reagan said the history of communism was in its "last pages," he referred to the fact that Soviet citizens recognized that the communist revolution had failed in its promise to improve workers' lives. This observation came on the cusp of significant historical changes and was part of a broader context where communism in the Soviet Union and its satellite states was losing its grip, unable to fulfill its utopian ideals and adapt to demands for reform and openness. The era signified the beginning of the end for the Soviet Union's power, with the democratic revolutions of the late 1980s being a key component in the weakening of communist dominance in Eastern Europe.