The Vampire State: And Other Myths and Fallacies About the U.S.Economy

Much right-wing political effort has gone into creating an image of the US government as a "vampire", sucking the lifeblood from the economy. Americans have been told that if they want a healthy economy, they have to tighten their belts, save more, and eliminate the federal budget deficit by drastically downsizing the government. This work argues that these claims derive their persuasiveness not from good economics but from popular allegories and metaphors that have shaped public understanding for generations. Robert Block shows the ways in which these metaphors distort understanding of the US and global economy. He explains why balancing the federal budget will not solve economic problems, shows the flaws in the arguments for a global free-trade regime, and uses a series of alternative metaphors to provide a realistic analysis of the reforms that the US needs.