reagan put is architect behind debt market economy. he is not austrian economy nor classical economics. he is neo-keynasian. neo-liberalism is misnomer. keynasian is all about demand side of economic. government taking debt for spending/consumption. neo-keynasian of reagan then then improved upon it. not just state but corporation, consumer everyone has to take debt aswell and cheap credit. thus huge amount of spending/consumption inject into economy. increase too much demand it created inlation. this is all keynasian stuff. thus it lead to economic model known as consumerism to be born. consumer consumption and devouring of good and service plus inflation is economic model of usa since then. this is demand side economics. there is nothing austrian and classical about it. cause classical and austrian economic care more about supply side economics and production driven economic not demand side and consumer driven economic like keynasian. reagan is a huge liar and scammer. he claim to bring in the classical economics but what he done is not to deregulated free market economy but deregulated financial debt market economy instead. keynasian like inflation and financial market. he is 100% keynasian nut job. he lied to everyone. financial power and debt stronger cause of him while traditional business elite suffer. that why usa automobile industry suffer so much and fall. every product become low quality and slop become widespread. company don't improve their products anymore cause keynasian inject artificial demand into economy using financial institutions. free market died with keynasian economic. reagan and thatcher neo keynasian not neo liberalism at all.
Tree Hugger