This Book Was Rejected… and Is Now a Bestseller!

“The rejected stone became the chief cornerstone.” — Proverbs 118:22

“Someone is sitting in the shade today because someone planted a tree a long time ago.” — Warren Buffett (“Maxims of Wall Street,” p. 134)

At this year’s FreedomFest, stoic philosopher and bestselling author Ryan Holiday is one of our keynote speakers. He’s the hottest #1 motivational speaker in the country. I urge you to hear and meet him in person. (See below for details.)

His most successful book is “The Obstacle is the Way: The Timeless Art of Turning Trials into Triumph.” It has had a tremendous influence, especially in sports.

Several members of the New England Patriots say it made a difference in their winning so many Super Bowls… and after Holiday gave an impassioned motivational speech before the Alabama Crimson Tide football players, they won the National Championship… twice!

But what’s amazing is that the book was a bomb initially. “Obstacle” sold very little when it first came out in 2014. Holiday said, “Amazon discounted the e-book as some kind of loss leader.”

And then it took off, and today, 11 years later, it has sold over two million copies and has been translated into forty languages. He will tell his story next month at FreedomFest.

Holiday’s top-selling book is not unique.

In 1739, the Scottish economist David Hume published “A Treatise of Human Nature.” He himself confessed that it “fell dead-born from the press.” And yet that book made Hume THE philosopher of 18th century Enlightenment.

It Took 21 Years for This Influential Statesman to Review This Book!

My own book, “The Making of Modern Economics,” has had a similar sojourn.

It is a bold, new introduction to the great economic thinkers from Adam Smith to Karl Marx and John Maynard Keynes… and went through numerous edits before being published on March 9, 2001… a book I’m especially proud of.

The original publisher, Mike Sharpe, an open-minded social democrat, told the historian Robert Heilbroner: “You’ve just found your match! Skousen’s book will become the classic history of economics.” I just wished I could use his title, “The Worldly Philosophers.”

Despite good reviews, the book sold slowly, perhaps because the title was not especially memorable.

But then it took off, and today has sold thousands of copies, gone through four editions and has been translated into half a dozen languages.

It has won the Choice Book Award for Academic Excellence and was ranked the #2 Best Libertarian Book in Economics by the Ayn Rand Institute (behind Henry Hazlitt’s “Economics in One Lesson”).

This Letter Made My Day

This week, I received a letter about the book. It made my day… week… month… and year!

It came from Dick Armey, former House Majority Leader, who is also a PhD economist who taught at major universities in Montana and Texas before running for office. He is also founder of FreedomWorks, and a strong advocate of the flat tax, privatization and free trade.

He gave me permission to reprint his letter:

“Dear Mark:

In 2004 you gave me a copy of your book “The Making of Modern Economics.” For some sorry reason I set it aside and did not rediscover it until recently. More is the pity for me. I have now read it, and I must say I was enthralled, edified and entertained from start to finish.

It is beyond all doubt the best book of its kind, and I have read many of them, that I have ever read. Thank you for a gift beyond what I might have dared to hope and please forgive me my remissness. I carried it with me for weeks and repeatedly reviewed much of it.

If the rest of you want to know who we are and from whence we came, you can do no better than to read this book.”

Signed “Dick Armey.”  

I’ve received a lot of accolades for my history, but this one is the most unique. It took 21 years for Dick Armey to review it!

Will wonders never cease?

I worked hard to make my history of the great economic thinkers unique and fun to read, with stories, pictures and even a dramatic plot with a hero (Adam Smith), enemies (Marx, Keynes, Veblen) who left Smith left for dead only to be resurrected by his supporters (French laissez-faire school, Austrians, Chicago school, supply-siders)… and then triumphs in the end with the collapse of the Berlin Wall and the Soviet socialist central planning system.

If any of you would like to buy my book at a discount (4th edition, published by Routledge), for only $37 for the quality paperback, go to http://www.skousenbooks.com. I also autograph all copies and mail them at no extra charge within the 50 states.

It’s also available on Audible and Kindle.

An Inspiring Story

My book was inspired by an epiphany in writing it. One of the unique features is that the first edition came out on March 9, 2001, the anniversary of the pub date (March 9, 1776) of the Wealth of Nations — Adam Smith is the hero of the book, as you can see from the cover.

Read the whole story here.

Here is a summary of the book.

Reviews

Over the years I’ve received a number of reviews, most favorable. Here are several recent ones:

“This is the single best book on virtually all of those who have had a significant impact in economics. It’s a delight to read cover to cover.”— Richard Rahn, Washington Times

 “It’s unputdownable!” — Marc Blaug, University of Amsterdam

“It’s fun to read on every page. I’ve read it three times and have recommended it to all my friends.” — John Mackey, Whole Foods Market

“When people ask for a history of economic thought, there is no contest: This book is hands-down the best. For sheer intellectual adventure, this book is unmatched.” — Jeffrey Tucker, Brownstone Institute

 The late great William F. Buckley, Jr., wrote, “I champion Skousen’s book to everyone. I keep it by my bedside and refer to it often. An absolutely ideal gift for college students.”

Get your copy today at www.skousenbooks.com.

 The World’s Most Controversial Libertarian, Ross Ulbricht, Pardoned by Trump, to Speak at FreedomFest!

I am thrilled to announce that Ross Ulbricht will join us as a keynote speaker at FreedomFest 2025 in Palm Springs, California, June 11-14!

Who is Ross Ulbricht? He is the libertarian most famous for founding and operating the controversial online “Silk Road” marketplace from 2011-13, the “dark web” that allowed individuals to sell any product they wished anonymously through Bitcoin. That attracted a lot of illegal drug dealing that resulted in his high-profile conviction in criminal drug dealing and money laundering.

“I wanted to empower people to make choices in their lives and have privacy and anonymity,” Ulbricht said at his sentencing in May 2015.

 Worst Violation of the Eighth Amendment Ever!

In the past, individuals convicted of computer crimes got no more than 10 years in prison. Shockingly, federal judge Katherine Forrest, an Obama-appointee, sentenced Ulbricht to a double life in prison plus 40 years without the possibility of a parole.

Considering that many convicted murders and rapists get off with much lighter sentences, libertarians decried the sentence as outrageously excessive. (The mainstream press only said he received a “life sentence.”)

We don’t condone what Ross did, but the punishment should fit the crime.

Congressman Thomas Massie said the sentence “was probably the biggest violation of the eighth amendment of the Constitution ever” (for “cruel and unusual punishment”). Watch his short one-minute statement here: Rep. Thomas Massie explains why Ross Ulbricht’s sentence should be commuted. #freeross.

His mother, Lyn Ulbricht, and other libertarians began a “Free Ross” campaign, speaking at FreedomFest and the Libertarian Party conventions.

After spending 10 years in prison, he finally received a historic pardon from President Donald Trump, who called the sentence “ridiculous.”

Recovering from 10 years in federal prison can take its toll, but Ross Ulbricht is now prepared to speak publicly about his ordeal.

He has chosen FreedomFest, June 11-14 in Palm Springs, to make his first appearance in person before a libertarian audience to tell his story.

As one attendee wrote me, “Congrats! You really pulled off a shocker with Ross Ulbricht!”

We will also hear from his mother, Lyn Ulbricht, who worked tirelessly to free her son.

FreedomFest attendees will have the chance to hear and meet Ross and Lyn Ulbricht in person at this year’s big show, as well as many other great speakers.

To register, go to www.freedomfest.com, or call Hayley at 1-855-850-3733, ext. 202. Save $100 by using the code EAGLE.

Good investing, AEIOU,

Mark Skousen

You Nailed it!

Steve Forbes Day at Chapman University

By Mark Skousen

Mark Skousen, Chapman president emeritus Jim Doti, Dean Henrik Cronqvist, Steve Forbes and Ambassador Ron Spogli.

It was Steve Forbes Day at Chapman University this week. Mr. Forbes, chairman and editor in chief of Forbes magazine, received the Doti-Spogli Free EnterPRIZE, which includes five American eagle gold coins (now valued at over $17,000) and a bust of Adam Smith. (See photo above.)

Past recipients were Nobel laureate Vernon Smith and former CEO of Whole Foods Market John Mackey.

Over 300 attendees, including many students, heard Mr. Forbes give a 20-minute talk on how free enterprise has benefited everyone on the planet.

Forbes magazine is ranked the #1 top business magazine in the world. It is the only generational magazine out there (Mr. Forbes is the grandson of the founder B. C. Forbes.)

My wife and I have known Mr. Forbes for over 30 years; he is a big supporter of free markets, and is our ambassador to FreedomFest. He will be there this year.

After this year’s FreedomFest, Jo Ann and I are going on a Forbes cruise, June 21-July 2, from Monte Carlo to Rome. In addition to Steve Forbes and me, speakers include Steve Moore, Rich Karlgaard, and Mark Mills. To join us, go to The 43rd Forbes Cruise for Investors.

Mr. Forbes is also a big fan of my work, and publicly mentioned me as a future Nobel Prize winner (I assume he meant in economics, not literature!).

Regarding “The Making of Modern Economics,” he says, “His book brings history to life, with concise and incisive sketches of flesh and blood individuals. Read it!”