Neoliberal myths

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One of the new pages now published on the blog refers to neoliberal myths. At the moment this is a bit of a placeholder page, but it will not be in due course. Once the Tax Research Glossary is up and running with sufficient entries to make it useful the next issue that I intend to tackle is the myths that underpin neoliberalism.

Without in any way seeking to be exclusive these might include:

  • There is money in the bank
  • Banks lend out other people's money
  • Tax pays for spending
  • Government debt has to be repaid
  • Growth is the be-all and end-all of the economy and nothing else matters
  • Austerity is the right response to economic downturns
  • Public services are black holes into which many is thrown
  • Government spending can't add to growth
  • Money creation is bound to lead to inflation
  • The government must balance its books
  • We can't afford pay rise during inflationary periods
  • Profit is a measure of anything useful
  • Government is like a household
  • There is no such thing as society
  • Our grandchildren will have to repay our debt
  • The national debt is a burden
  • We can no longer afford the NHS

Suggestions are welcome. Please email them to

The aim of this exercise will be to:

  • Explain what is being claimed
  • Show why it is wrong
  • Offer a counter-narrative that can be used to attack it.

I am hoping this will prove to be useful. Beating these false narratives seems to me to be key to beating the curse of neoliberalism itself.

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