The MAGA movement has its roots in the economic theories of Friedrich Hayak, going back to the late 1930's. Deeply anti-communist (Stalinism), countering the theories of John Maynard Keynes which underpinned the New Deal of the FDR administration designed to successfully pull our failed economy out of the ditch.
Hyak advocated what is now called neo-liberalism, positing that government should not be at the work of social services and progressive taxes to assist lower income citizens toward the middle class lifestyle. Neo-liberalism is the basis of trickle down economics which have failed Americans first advanced by the Reagan administration. His theories also have advanced global economics practiced by ambitious corporations which has included offshoring finance and manufacturing by foreign nations, moving such production overseas, gutting our heartland.
But MAGA clearly misunderstands economics as they oppose extensive foreign trade and globalization of commerce, advocating rather protectionism, while limiting the role of government in protecting citizens from commercial abuse. They are proposing austerity through tariffs imposed on key foreign made goods creating potential massive economic hardship for everyday Americans and the middle class. They are proposing using Stalinesque style totalitarian government to increase the power of the wealthy and corporations and unbridled capitalism over our middle class, which of course contradicts Hyak's economics.
Hyak's theories were popularized by Milton Friedman and the economics department of the University of Chicago and have been adopted by the elite of both of our political parties. This has resulted in the gross economic inequality in our country and the extreme hardship faced by our middle and lower income classes with stagnant wage growth and inflation in all the following economic sectors: housing, food, many categories of consumer goods, healthcare, transportation and higher education. It has resulted in a debt ridden middle class and and sense of hopelessness and escapism with large sectors of our population. This is manifested in massive mental illness increases and drug abuse.
The MAGA people incorrectly characterize government social safety nets and assistance for the financially deprived as "communism", which of course it is not as a study of the tenants of communism reveals.
Hang on for dear life. You've been hoodwinked by con-artists dedicated to their own well being, rewarding the "me" without regard to the "we" required to provide the freedom of democracy, itself needing modernization and reform. Not much help is currently on the way to curtail turning America into a full blown Kleptocracy and Autocracy until American Voters, particularly dependable Democratic Party voters awakened to what is being done to them by the wealthy and restore our Democracy and a government designed to make life better for all. Fair market capitalism, not free market capitalism is compatible with democracy. And we need to rewrite the idea of the American Dream which has been misconstrued to becoming rich. It means having a stable, safe and financially secure life of freedom to pursue our dreams. Wealth should not be in the equation.
