After a decade of near obscurity, the Libertarian Party emerged into political prominence around the time of the election of 1980. This was also the year when Ronald Reagan was elected President. It is thought by many that Reagan's economic policies most closely resembled those of libertarians. But this was not true. Still, even now, many people think that the libertarian movement is a distinctly American movement fostering liberty and "American values". On the contrary, the Libertarian Party is merely faux American in principle. It is a party against liberty.