BOOK REVIEW Big Business: A Love Letter to an American Anti-Hero By Tyler Cowen 2019 ST. MARTIN’S PRESS, 249 PAGES Reviewed by Camille Vazquez

yler Cowen’s latest book, “Big general director of the Mercatus Center, Business: A Love Letter to an adjunct scholar for the Cato Institute, American Anti-Hero,” is both timely author, columnist, and much more. “Big Tand approachable. A book of this caliber Business” came as a response to recent is to be expected from Cowen, given his alarming polls showing, among other wealth of knowledge and experience, which things, that 51 percent of young people do includes serving as an economics professor not support capitalism and, unsurprisingly, at George Mason University, chairman and similar numbers carry across different The JOURNAL of The JAMES MADISON INSTITUTE

first, we should lower our standards for judging their morality, and second, these businesses should strive to be more socially responsible. To begin, Cowen raises the point that were it not for the innovation from businesses, we would be without the technology for many forms of transportation and utilities, pharmaceuticals, clothing, food, communication devices, and access to online information. Additionally, businesses provide countless jobs and salaries that allow us to purchase what we need. The idea that businesses act as our great providers is instrumental to leading Cowen into his second argument, which is that there is an inherent cognitive dissonance between our need for businesses and our negative perception of them. Cowen explains that the root of this cognitive dissonance stems from our tendency to anthropomorphize businesses, thus creating a false perception that demographics. His intent was to dispel businesses are persons, who will adhere to myths that have spread about greedy CEOs a strict moral code. Subsequently, we are and corrupt tech companies, while also disappointed when they inevitably fall short reminding Americans of all that businesses of our expectations. Cowen explains that have done for our country, such as providing businesses are made up of flawed people Americans with most of their “stuff,” and “the propensity of business to commit countless jobs, and innovation that moves fraud is essentially just an extension of the our country forward. The crux of Cowen’s propensity of people to commit fraud.” love letter lies in his twofold solution He continues to say that even if we were for remedying this cognitive dissonance correct in holding these businesses up to between our need for these big businesses moral codes like ours, we must recognize and our malevolent perceptions of them: that we too fall short and just as often. For The JOURNAL of The JAMES MADISON INSTITUTE

example, a 2002 study from the University same businesses. First, we should be more of Massachusetts found that 60 percent of appreciative of businesses and recognize adults will lie at least once during a ten- that we are unfairly anthropomorphizing minute conversation. To go even further, them and holding them to strict moral Cowen argues that “big business has by codes that even we cannot consistently necessity […] become one of the most uphold. Second, big businesses should effective institutions for limiting the be more socially responsible. This dual- extent of fraud,” particularly due to digital ended solution can help us to “believe in communication raising “the price for American business as something that, at corporate dishonesty.” Cowen implores us its best, represents many of humankind’s to appreciate the role that business plays in highest values.” improving our lives and recognize that not Tyler Cowen’s “Big Business: A Love only are we unfairly anthropomorphizing Letter to an American Anti-Hero” is a big businesses, but we are unfairly holding compelling appeal to facts and reason during them up to a standard that even we cannot a time when hot-blooded narratives seem always fulfill. to dominate the day. He expertly supports Likewise, Cowen charges big businesses his arguments by carefully balancing his with the challenge to be more socially commendation of all the good that big responsible. If businesses took advantage businesses have done for our society with of the huge role that they play in our the gentle exposure of the hypocrisy of society, they could reduce crony capitalism individuals within our society. His charging while also “[boosting] both business and of both individuals and big businesses social profits including prosperity and to change their perceptions and actions liberty” all without the need for the type offers a refreshing closure to his book. of excessive government regulation that Cowen reminds us that this formidable leads to monopolies. Cowen believes problem is not without a solution—and a that big businesses should strive to be straightforward one at that. “fundamentally ethical enterprise[s].” Reviewer Camille Vazquez is a third-year Throughout his book, Cowen does law student at the Florida State University a great job zeroing in on the reasons why College of Law. big businesses are so disliked. He offers great solutions for the American people to reconcile the cognitive dissonance between their need for big businesses and their negative perception of these