The Power of the Political Narrative

The financial crisis is attributed to the failure of both neoliberal theory and practice. Despite the evident damage caused by unregulated capital leading to the 2008 crisis and ongoing repercussions, the blame has not been successfully placed on this political philosophy. The key reason lies in the power of having a compelling narrative. Those supporting neoliberalism possess a story that provides a sense of direction and purpose, even if it lacks substance. In contrast, the opposition lacks a cohesive narrative, putting them at a disadvantage in the political arena. The ability to craft a convincing story, regardless of its accuracy, can significantly influence public perception and political outcomes.