The Big Myth: How American Business Taught Us to Loathe Government and Love the Free Market

Historians of science Oreskes and Conway (Merchants of Doubt) return with a persuasive examination of how corporate advocates, libertarian academics, and right-wing culture warriors have collaborated to try to convince the American people that economic and political freedom are indivisible, and that regulation leads inexorably to tyranny. Tracing the rise of “market fundamentalism” across the 20th century, the authors detail how business leaders formed groups like the National Organization of Manufacturers and the American Liberty League to fight government regulations and progressive social programs. In addition to legal and political battles, these groups waged extensive propaganda campaigns and funded the careers of like-minded academics. Throughout, Oreskes and Conway reveal the distortions that originated from these intellectual circles, noting, for instance, that Chicago School economist George Stigler’s edited version of Adam Smith’s The Wealth of Nations “expunged nearly all of Smith’s caveats about free market doctrine.” Blaming free market orthodoxy for stymieing efforts to combat climate change and expand healthcare, the authors advocate for a middle path that is both “pro-market and pro-government.” Polemical yet scrupulously researched, this wake-up call rings loud and clear. Agent: Ayesha Pande, Ayesha Pande Literary. (Feb.)