Latest Issue

The myth of the free market “triumph”

The government will have to address the consequences of free market ideology in modern politics if it wants to be seen as the solution rather than the cause.

By Bryan Gould  

When Francis Fukuyama famously proclaimed the “end of history” and the triumph of western liberalism in 1989, his assertion reflected an assumption so obvious that he hardly bothered to argue it–that the “free” market and political democracy are two sides of the same coin.

Just over two decades later, as the western world is increasingly under challenge politically, culturally and–not least–economically, that assumption cannot be sustained. What Fukuyama failed to foresee was that the major threat to western economic and political hegemony, as well as to western culture…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect