Recent writing on Higher Education has seen much policy and practice attributed to the advent or impact of neoliberalism. This paper examines the origins and meaning of the term, its application to Higher Education and Higher Education research, and the issues and critique that have been raised in this context. It is argued that neoliberalism is just one more in a whole series of 'fright terms' used in an attempt to galvanise opposition and resistance to the current directions of Higher Education policy and practice.