Uploaded August 2026 | Updated September 2026, 3 weeks ago
I think that journalists are all asking politicians the wrong question. They should be asking every politician: “What are your priors?”
Instead, they ask “How are you going to pay for it?”
That's the wrong question because a person’s priors are the assumptions they bring to every debate before they even look at the evidence. Those assumptions shape what they believe government can do, what they think markets can achieve, and which policies they consider realistic or impossible.
If we knew a politician's priors, we would know why they think something can or cannot be paid for, so that has to be the question that comes first.
Too often, however, these assumptions remain hidden. Politicians present opinions as facts without explaining the political philosophy that underpins them. As a result, important ideas such as neoliberalism are treated as common sense rather than as viewpoints that deserve to be challenged.
Political economy reminds us that economics is never value-free. Every economic argument reflects assumptions about power, society and who should benefit. If journalists exposed those assumptions, political interviews would become far more revealing and far more honest.
Instead of accepting claims that “there is no alternative”, we could begin debating the alternatives that genuinely exist. Then we might break the political logjam we are in now.
Take a look at today's poll: youtube.com/post/Ugkxv3y_a4YvzgotZQSX3wUlWpARqsHgGe_Y
00:00 The Question Journalists Never Ask
00:43 What Are Political Priors?
01:37 Why Assumptions Matter More Than Facts
02:19 Neoliberalism as the Default Worldview
03:11 Why Political Economy Starts with Beliefs
04:01 How Better Questions Would Change Politics
04:47 Challenging “There Is No Alternative”
05:20 Why Exposing Priors Creates Better Debate
TRANSCRIPT
A transcript for this video is available at: taxresearch.org.uk
IF YOU WANT TO WRITE TO YOUR MP ABOUT ISSUES IN THIS VIDEO
If you want to write a letter to your MP on the issues raised in this blog post, there is a ChatGPT prompt to assist you in doing so, with full instructions, here. taxresearch.org.uk/Blog/2025/06/20/chatgpt-prompt-for-a-letter-to-your-mp
HOW TO SUPPORT US
Please consider donating: ko-fi.com/taxresearch
ABOUT RICHARD MURPHY
Richard Murphy is Emeritus Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best-known book is ‘The Joy of Tax’.
This video was edited by Thomas Murphy.
RICHARD MURPHY ON BLUESKY:
https://bsky.app/profile/richardjmurphy.bsky.social
OR
ON MY BLOG: taxresearch.org.uk/Blog
HIT SUBSCRIBE & GET NOTIFICATIONS
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INTRODUCTION: youtube.com/watch?v=HdHsRPy3060
PLAYLISTS:
The Wealth Series
youtube.com/playlist?list=PLvRueM6wBgobQLeyZYAagFDMjEFTKbhRD
Ecenomics
youtube.com/playlist?list=PLvRueM6wBgob54Gs-fOL-8OAQ-IpduwB4
Britain
youtube.com/playlist?list=PLvRueM6wBgobwTT4ATvJjsf8OO6S7wD10
Tax
youtube.com/playlist?list=PLvRueM6wBgoaMni_12J6ULp3yUJisUZoY
MMT
youtube.com/playlist?list=PLvRueM6wBgoZ6jvRGSW5YXu8qogE6aClX
Money
youtube.com/playlist?list=PLvRueM6wBgoYnLk1c7syTvoIo8bKYUs5m
Climate Change
youtube.com/playlist?list=PLvRueM6wBgob4_wsYaVivWd2WumpPLYwJ
USA
youtube.com/playlist?list=PLvRueM6wBgoYYd3dSyU2Oyl3x7bWJOP7H
Labour
youtube.com/playlist?list=PLvRueM6wBgoa-KhzG-fnjDSg1WROL1zMw
The Trump Administration
youtube.com/playlist?list=PLvRueM6wBgobz41-GLimTho27A3flVWQx
#Politics #Economics #PoliticalEconomy #Neoliberalism #Journalism #Media
I think that journalists are all asking politicians the wrong question. They should be asking every politician: “What are your priors?”
Instead, they ask “How are you going to pay for it?”
That's the wrong question because a person’s priors are the assumptions they bring to every debate before they even look at the evidence. Those assumptions shape what they believe government can do, what they think markets can achieve, and which policies they consider realistic or impossible.
If we knew a politician's priors, we would know why they think something can or cannot be paid for, so that has to be the question that comes first.
Too often, however, these assumptions remain hidden. Politicians present opinions as facts without explaining the political philosophy that underpins them. As a result, important ideas such as neoliberalism are treated as common sense rather than as viewpoints that deserve to be challenged.
Political economy reminds us that economics is never value-free. Every economic argument reflects assumptions about power, society and who should benefit. If journalists exposed those assumptions, political interviews would become far more revealing and far more honest.
Instead of accepting claims that “there is no alternative”, we could begin debating the alternatives that genuinely exist. Then we might break the political logjam we are in now.
Take a look at today's poll: youtube.com/post/Ugkxv3y_a4YvzgotZQSX3wUlWpARqsHgGe_Y
00:00 The Question Journalists Never Ask
00:43 What Are Political Priors?
01:37 Why Assumptions Matter More Than Facts
02:19 Neoliberalism as the Default Worldview
03:11 Why Political Economy Starts with Beliefs
04:01 How Better Questions Would Change Politics
04:47 Challenging “There Is No Alternative”
05:20 Why Exposing Priors Creates Better Debate
TRANSCRIPT
A transcript for this video is available at: taxresearch.org.uk
IF YOU WANT TO WRITE TO YOUR MP ABOUT ISSUES IN THIS VIDEO
If you want to write a letter to your MP on the issues raised in this blog post, there is a ChatGPT prompt to assist you in doing so, with full instructions, here. taxresearch.org.uk/Blog/2025/06/20/chatgpt-prompt-for-a-letter-to-your-mp
HOW TO SUPPORT US
Please consider donating: ko-fi.com/taxresearch
ABOUT RICHARD MURPHY
Richard Murphy is Emeritus Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best-known book is ‘The Joy of Tax’.
This video was edited by Thomas Murphy.
RICHARD MURPHY ON BLUESKY:
https://bsky.app/profile/richardjmurphy.bsky.social
OR
ON MY BLOG: taxresearch.org.uk/Blog
HIT SUBSCRIBE & GET NOTIFICATIONS
Subscribe and get notified of new videos released.
INTRODUCTION: youtube.com/watch?v=HdHsRPy3060
PLAYLISTS:
The Wealth Series
youtube.com/playlist?list=PLvRueM6wBgobQLeyZYAagFDMjEFTKbhRD
Ecenomics
youtube.com/playlist?list=PLvRueM6wBgob54Gs-fOL-8OAQ-IpduwB4
Britain
youtube.com/playlist?list=PLvRueM6wBgobwTT4ATvJjsf8OO6S7wD10
Tax
youtube.com/playlist?list=PLvRueM6wBgoaMni_12J6ULp3yUJisUZoY
MMT
youtube.com/playlist?list=PLvRueM6wBgoZ6jvRGSW5YXu8qogE6aClX
Money
youtube.com/playlist?list=PLvRueM6wBgoYnLk1c7syTvoIo8bKYUs5m
Climate Change
youtube.com/playlist?list=PLvRueM6wBgob4_wsYaVivWd2WumpPLYwJ
USA
youtube.com/playlist?list=PLvRueM6wBgoYYd3dSyU2Oyl3x7bWJOP7H
Labour
youtube.com/playlist?list=PLvRueM6wBgoa-KhzG-fnjDSg1WROL1zMw
The Trump Administration
youtube.com/playlist?list=PLvRueM6wBgobz41-GLimTho27A3flVWQx
#Politics #Economics #PoliticalEconomy #Neoliberalism #Journalism #Media
