The Card Carly Doesn’t Play

Most political women pander to gender, but Fiorina wants to make it on the merits. Asked during Wednesday’s GOP debate which woman he’d put on the $10 bill, Jeb Bush named Margaret Thatcher. As Mr. Bush then joked that it would probably be illegal to put a British prime minister on American currency, eyes flicked to the woman standing to his left. Quite so.

Carly Fiorina isn’t Margaret Thatcher, just as her Republican rivals aren’t Ronald Reagan. Yet Ms. Fiorina has a bit of Thatcher about her—and in one way...