One of the myths is that of robber baron. It states that in the late nineteenth century, in America there were powerful individuals who obtained their riches at the expense of those who are poor. However, this is not the case, but it was as a result of them being productive. It is said that there has never been such a time in history with such rapid and widespread improvement in the individual’s wealth. The other myth is that of the great depression. It is said that this myth was as a result of business failure. However, it was the government that had failed (Friedman, min. 22).
The third myth is that the government had expanded due to public demand when in reality the public had to be thoroughly convinced in order for the government to implement any of the key social programs. The other myth is that of free lunch. This myth forces one to pay more, irrespective of the manner in which money is raised by the government. In this light, it is not factored into consideration whether the money is accrued by taxing of businesses, individuals, or by printing of additional money.
The last myth is that the government, just like Robin Hood, takes wealth from the rich and transfers it to the poor. Far from this and in actual sense, the government transfers income and wealth from the rich and the poor to the middle class.