Neo lilberalism

In my formative years, the time from the end of WW 2 until 1970, the economy was based on Keynesian ideas. In good times the government would raise taxes and build up a surplus to be spent when bad times come to shore up the economy. The problem is that in good times the government didn't save for a rainy day but instead used the money for new programs. About the time that I reached mid life a new form of government began to replace Keynesian ideas and it was called neo liberlism. It basically meant free market capitalism without regard to the safety net, deregulation, no tariffs, privatizing public works and reduce spending. It championed globalization and low taxes. While this new idea was trying to gain a foothold the stagflation and recession of the Carter years popped up and that was followed in the late 80's by the S and L crisis. Next came the mortgage crisis of 2008 and this opened the door for some serious changes and along comes Trump. He was not a budget hawk, one of the fundamental parts of neo liberalism, he imposed import taxes on China and was not interested in privatizing business so this upset the status quo. Biden followed Trump with the same approach and today neo liberalism is on the way out. What will replace it is up for grabs but it will be a combination of different types of government with the emphasis on make America great and America first.