This chapter introduces “the myth of classical liberalism,” which consists of two main claims. First, the English word “liberalism” originally referred to the free market philosophy of Adam Smith. Second, Franklin Roosevelt changed the meaning of the word “liberalism” during the New Deal by using the term “liberals” to refer to supporters of his New Deal policies. Both claims are false. This is shown in the following chapters with a “word history” of the English words “liberals” and “liberalism” in nineteenth-century England and early twentieth-century America.