Part 3/9:
The Reagan presidency was a defining moment for proponents of reducing governmental intrusion. However, significant policies aimed at reducing the size of bureaucracy often clashed with political reality. Faced with inflation and a growing federal budget, Reagan attempted to enact libertarian policies as outlined in his influential book Free to Choose, co-authored with Friedman.
In retrospect, the promises of the Reagan Revolution fell short. Internal resistance from interest groups and entrenched bureaucrats contributed to the failure of sweeping reforms. Reagan’s attempts to cut federal spending often yielded only modest results. According to former budget director David Stockman, without radical action to cut benefits for special interest groups, real savings remained elusive.