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

"A meticulously researched work of intellectual history, accompanied by a vital political analysis." - Jane Mayer

"A searing condemnation of free market fundamentalism...and a call for transformative change before it's too late." - Esquire, Best Books of Winter 2023

In their powerful and thought-provoking book, Merchants of Doubt, bestselling authors Naomi Oreskes and Erik M. Conway exposed the origins of climate change denial. Now, they shed light on yet another destructive fallacy that has plagued America: the myth of the "free market."

Venturing into the early 20th century, Oreskes and Conway delve into a history shaped by business elites, trade associations, influential powerbrokers, and their media allies. Together, they embarked upon a mission to establish a new American orthodoxy—one that rejected "big government" in favor of unregulated markets. Drawing upon striking archival evidence, the authors chronicle relentless campaigns to rewrite textbooks, dismantle unions, and defend the exploitation of child labor. They uncover the tactics that thrust hardline economists Friedrich von Hayek and Milton Friedman into the national spotlight, unveil the libertarian origins of the beloved Little House on the Prairie books, and dissect a General Electric-sponsored television program that disseminated free-market doctrines to millions, ultimately launching Ronald Reagan's political career.

By the 1970s, this propaganda machine had achieved considerable success. The ideology of an unbridled free market came to dominate American governance across Republican and Democratic administrations, leading to disastrous consequences. It played a role in the housing crisis, fueled the opioid epidemic, contributed to climate destruction, and hampered a meaningful response to the Covid-19 pandemic. Only by comprehending this troubled history can we envision a future where markets serve as agents of democracy rather than suppressors.

Prepare to be enlightened and moved as Oreskes and Conway invite you on a journey through time, uncovering the distorted narratives that have shaped our society. Through their gripping narrative, we gain the necessary insights to reimagine a future where markets work harmoniously, nurturing democracy instead of undermining it.