Special Report: I was interviewed for seven minutes on Newsmax TV’s “National Report” on the pros and cons of the Trump Trade War, what Ben Franklin would think of the Constitutionality of Trump’s executive orders, and the chapter that was censored in my new book, “THE GREATEST AMERICAN.” Watch it here.
My new book is NOT a traditional biography of Franklin; dozens of books have been written detailing his life. Rather, mine is unique — 80 chapters on what we can learn from this unique founder, with Franklin’s very modern views on the trade war and globalization, diplomacy and dealing with enemies, taxes and inflation, deficits and the national debt, science and technology, healthy living and living long, racism and discrimination, education and the American dream, inequality and financial independence, wars and conflicts, investing and the economy, sex and family life — the list goes on and on.
“I am quite of the opinion that our independence is not complete till we have discharged our public debt.” — Benjamin Franklin
Wall Street is again worried about another monetary crisis.
After Moody’s cut the rating on U.S. government securities, investors are demanding higher interest rates to buy Treasuries. The Treasury Department needs to refinance $9 trillion this year alone.
To do so, they need to raise rates to entice investors to buy. Long-term bonds are now yielding nearly 5%. Even the rate on Japanese government bonds is now over 3%, a record.
The national debt crisis that we have been warning about for years is finally coming to a head.
The problem is that neither Republicans nor Democrats are willing to face the music. Government spending needs to be cut drastically, and yet President Donald Trump’s “big beautiful bill,” working its way through Congress, is expected to increase the national debt by $3-4 trillion over the next 10 years. DOGE has been a dud.
It’s time to listen to the wisdom of Benjamin Franklin, who said, “There’s much revenue in economy; and no revenue [tax increases] is sufficient without economy.”
Surprise! Could Donald Trump Be Channeling Ben Franklin?
In Tuesday’s press conference, I noticed that President Trump had placed the famous Houdon bust of Benjamin Franklin on his desk in the Oval Office. (See photo below.)
Is he channeling “America’s greatest diplomat,” to quote historian Ken Burns?
My new book — the first in 10 years — shows that the grandfather of our nation is “the most modern of the founders,” and has much to say about trade wars, taxes, inflation, the national debt and foreign policy.
What could our new President learn from Dr. Franklin? Let’s look at some of the hot issues of the day.
‘The Most Modern of the Founders’
Benjamin Franklin was the oldest of the founding fathers — he was indeed a whole generation ahead of George Washington, John Adams and Thomas Jefferson — and yet, he was the most forward-looking of the group and the most modern of the founders. He was a supporter of free-enterprise capitalism and globalization, a skeptic about organized religion, defender of the rights of minorities, a lover of modern gadgetry and proponent of women’s rights.
According to French historian Bernard Faÿ, he was “the apostle of modern times.” Of all the founders, he would be the one most comfortable living today. He would not be surprised by the tremendous advances in people’s incomes and living standards.
Like Trump, Franklin Was an Optimist
After the American revolution, he predicted, “America will, with God’s blessing, become a great and happy country.” Like President Trump, he was an optimist and a believer in progress and the American dream, the idea that every American could get ahead through industry, thrift and a good education.
Franklin was in many ways the father of American capitalism. He would be pleased with the buzz of daily life in the marketplace and our major cities.
Technology Buff
Throughout his adult life, Franklin was mesmerized by scientific advances in transportation, medicine and agriculture, and loved to hear about and even create his own new inventions. “I have sometimes almost wished it had been my destiny to have been born two or three centuries hence,” he dreamed, “for inventions of improvement are prolific, and beget more of their kind. The present progress is rapid.”
Franklin would be the first to have a cell phone, a high-definition (HD) television and airplane.
‘No Nation Was Even Ruined by Trade’
As an advocate of the “new” economics of “free trade” and liberal immigration policies, he embraced the benefits of globalization, the spread of democracy and representative government.
In today’s ongoing trade war, Franklin knew a thing or two about negotiating a “fair trade” deal that was “win-win” for the United States and foreign countries.
Later he wrote to a friend, “Commerce among nations as well as between private persons should be fair and equitable, by equivalent exchanges and mutual supplies. The taking unfair advantage of a neighbor’s necessities, tho’ attended with a temporary success, always breeds ill blood.”
In 1774, he wrote, “In transactions of trade, it not to be supposed that like gaming, what one party gains the other must necessarily lose. The gain to each may be equal… If restrictive laws were everywhere abandoned, trade would thrive in those countries.” He warned, “When princes make war by prohibiting commerce, each may hurt himself as much as his enemy. Traders, farmers and fishermen should never be interrupted or molested in their business but should enjoy the protection of all in the time of war and peace.”
Finally, Franklin concluded, “In general the more free and unrestrained commerce is, the more it flourishes. No nation was ever ruined by trade; even, seemingly, the most disadvantageous.”
Trump’s art of the deal is perhaps improving. He is said to have remarked to his fellow commissioner John Adams, “Diplomacy is seduction in another guise, Mr. Adams — and one improves with practice.”
It seems that Trump has learned when it’s to his advantage to retreat. Wall Street is applauding as tariffs and barriers to trade are being lowered.
A Positive View Toward Minorities and a Defender of Women’s Rights
Franklin’s views were advanced for his age when it came to treatment of minorities. He employed slaves as printers and diplomats, but gradually shifted his views and the end of his career, owned no slaves and was a strong advocate for the abolition of slavery. He considered blacks equally capable as whites. He blamed most of the Indian disputes on the white population.
Franklin was a defender of women’s rights and treated them as his equals. “Women, especially, flocked to see him, to speak to him for hours on end,” commented his French friend Jean-Baptiste Le Roy. The savant of Philadelphia is no distant marble figure like the reserved Virginian George Washington or the cantankerous prude John Adams. Here was a red-blooded American Casanova who disdained the mores of a sexually-repressed Puritan age, enjoyed a strong libido and was adored and memorized by the fairer sex for his charm, story-telling, fame and savoir faire. A thoroughly modern founding father who had few hang-ups.
See chapter 77 of my book “On Love, Sex and Marriage: Franklin’s Hard to Govern Passions.” — the only column in the Franklin Prosperity Report to be censored. But it’s in my book!
Fear of the National Debt and Big Government
Some features of modern-day America would appall Franklin. He would feel terribly uncomfortable with the size and burden of today’s national debt, and America’s leaders’ failure to balance the budget. The sheer size of the federal government would depress him. He believed “a virtuous and laborious [industrious] people can be cheaply governed.”
‘Nothing Is Certain in Life but Death and Taxes’
As the “big beautiful tax bill” makes its way through Capitol Hill, I’m reminded of Franklin’s famous statement about death and taxes. After the Constitutional Convention, he wrote a friend, “Thus, our new Constitution is now established and has an appearance that promises permanency; but in this world nothing can be said to be certain except death and taxes.”
On another occasion he said, “A virtuous and industrious people may be cheaply governed.” Do we have cheap government?
Everyone knows that government is expensive, and many state and federal programs are wasteful and unnecessary. But Elon Musk and DOGE learned quickly that it’s almost impossible to kill popular programs.
In his pamphlet, “The Way to Wealth,” Franklin warned Americans not to spend too much time worrying about ways to avoid taxes. “Friends,” he wrote, “the taxes are indeed very heavy, and if those laid on by the government were the only ones we had to pay, we might more easily discharge them; but we have many others, and much more grievous to some of us. We are taxed twice as much by our idleness, three times as much by our pride and four times as much by our folly; and from these taxes the commissioners cannot ease or deliver us by allowing an abatement. However, let us hearken to good advice, and something may be done for us: ‘God helps them that help themselves,’ as Poor Richard says.”
Elon Musk was smart to return to what he did best, running Tesla and Space X. We need to do the same. There’s not much you can do about taxes, but you can mind your business.
As Poor Richard says, “Keep thy shop, and thy shop shall keep thee.”
‘Commerce with All and War with None’
In foreign policy, Franklin was an expert, having negotiating treaties with France and England. During the American revolution, he wrote an anonymous figure in England, “We purpose, if possible, to live in peace with all mankind.”
He would admire President Trump’s efforts to end wars in the Middle East and Ukraine. Franklin hated war. He said, “There’s never a good war or a bad peace.”
His views were similar to George Washington’s final address but said more succinctly: “The system of America is commerce with all and war with none.”
As an advocate of the “new” economics of “free trade” and liberal immigration policies, he embraced the benefits of globalization, the spread of democracy and representative government.
The ultimate goal of our foreign policy should be peace and prosperity between nations. His desire: “Our cause is the cause of all mankind. God grant that not only the love of liberty but a thorough knowledge of the rights of man may pervade all nations of the earth so that a philosopher may set his foot anywhere on its surface and say, this is my country!”
He Warned That ‘Someday a King Would Rule Over Us’
He was asked after the Constitutional Convention what kind of government we had created. He famously replied, “A republic, if you can keep it.” He worried that someday the passions of money and greed would be more powerful that “a king would rule over,” and our republic would become once again a monarchy.
If he were alive today, Franklin would worry about a president who makes one-man decisions and signs numerous executive orders rather than going through Congress.
Franklin’s Views on Making Enemies
If there’s one area where Franklin and Trump would strongly disagree, it would be in the area of social relationships. Earlier in his career, Franklin would get into arguments with his friends, always trying to prove how much smarter he was. He lost friends and alienated people.
When it came to arguing, Franklin quickly learned this lesson: “If you argue and rankle and contradict, you may achieve a victory sometimes; but it will be an empty victory because you will never get your opponent’s good will.”
So, he decided to take a different tact. “I will speak ill of no man and speak all the good I know of everybody.”
Of course, this was easier said than done. Throughout his career, he did convert some enemies into friends, but not all. John Adams and other founders disliked Franklin. Even his own son William became a loyalist during the Revolution, for which his father never forgave him.
Our president could learn a thing or two from “America’s greatest diplomat” when it comes to making friends and influencing people.
The 13th Virtue: Humility
In his autobiography, Franklin listed a dozen virtues in his “plan of life.” When he showed the list to a friend, he told Franklin that he was known to be proud. So, Franklin added “humility” as the 13th virtue.
But like Trump, Franklin struggled with his vanity. Being the most famous American of his age due to his scientific advances and inventions, he loved the notoriety.
In his autobiography he confessed, “In reality, there is, perhaps, no one of our natural passions so hard to subdue as Pride. Disguise it, struggle with it, beat it down, stifle it, mortify it as much as one pleases, it is still alive, and will every now and then peep out and show itself; you will see it, perhaps, often in this history; for, even if I could conceive that I had completely overcome it, I should probably be proud of my humility.”
Indeed, fellow founder John Adams thought that Franklin suffered from an overweening ego and would take too much credit for establishing a new nation. After Franklin died in 1790, Adams wrote Benjamin Rush a letter in which he described his worst nightmare: “The history of our revolution will be one continued lie from one end to the other. The essence of the whole will be that Dr. Franklin’s electric rod smote the earth and out sprang General Washington. Then Franklin electrified him, and thence forward those two conducted the policy, negotiations, legislations and war.”
Does this criticism remind you of the current president?
New Franklin Book Is a Hit
Last week, a subscriber bought two copies of my new book, “THE GREATEST AMERICAN.” He liked it so much that, this week, we received an order for six more copies!
I’ve sold hundreds of pre-publication copies of my new book at www.skousenbooks.com.
And it’s already received favorable reviews, such as this one from Chuck Muth in Nevada News and Views, with the help of AI: Book Review: “The Greatest American” by Mark Skousen — Nevada News and Views.
This is not a traditional biography, but rather 80 chapters of commentary on how we can benefit from the life of the greatest American.
Alex Green states, “If anyone embodies the Renaissance man, it’s Ben Franklin — printer, scientist, musician, inventor, author, activist, statesman and diplomat. Mark Skousen delves into every facet of his remarkable life, including Franklin’s surprisingly active love life into his eighties, in this lively and entertaining book. Highly recommended.”
The official publication date is next Tuesday, May 27, the day after Memorial Day, when it will go on sale on Amazon and in Barnes & Noble. But you can get an autographed copy now at a discount (only $24 per copy, $19 for additional copies) at http://www.skousenbooks.com/. I pay the postage if mailed inside the 50 states.
Upcoming Appearances
This week, I’m being interviewed about the Franklin book on Newsmax TV and radio shows, the Tom Woods Show and the Washington Times; I’ll also be at the Oxford Clubroom with Alex Green next Tuesday.
I will also be doing a special session on June 12 at FreedomFest in Palm Springs with philosopher Eric Weiner, author of “Ben and Me,” followed by an autograph session. Join us at http://www.freedomfest.com, and use code EAGLE to get $100 off. Only 20 days away!
Franklin has much to say about today’s hot issues — free and fair trade, taxes, foreign policy and the vanity of politicians.
Be free, AEIOU,
Mark Skousen
You Nailed it!
Why I Love FreedomFest
By Mark Skousen
FreedomFest is always the highlight of my personal life — and I hope yours, too — for the year. So much of life is routine, doing the same thing over and over again.
FreedomFest breaks that mode. It’s an opportunity to spend four days getting to meet new voices, hear new ideas and learn from authors, professors, business leaders, political thinkers, healthy living experts, economists and financial gurus from around the world.
It’s like an intellectual Disneyland. FreedomFest is the focal point of “great ideas, great books and great thinkers.”
And like an amusement park, FreedomFest is a lot of fun. We have posted the full agenda here: Agenda – FreedomFest. Click on “schedule” and see the incredible lineup of speakers, panels, debates, Anthem films and entertainment.
You won’t want to miss our own Libertarian magician at the opening cocktail party on Wednesday evening, June 11, with Doc Dixon.
Social Events at FreedomFest
Here are some other really cool events planned in Palm Springs for June 11-12:
As you can see, there’s nothing like our “Fest” in Palm Springs!
Register Now and Save $100 Off the Retail Price
Our hotel room block is filling up, but there’s still time to come aboard, even if you can only join us for a day or two. (One- and two-day passes are available.)
Use code EAGLE to save $100 off the full retail price: Begin Registration: FreedomFest Palm Springs 2025. Or call Hayley at 1-855-850-3733, ext. 202.
And be sure to sign up for my Saturday morning breakfast on “Amazing Graphs: 10 Shocking Charts on Money and the Economy.” New!
