The Founder Who Made America Rich | Founding Fathers Series Part 3

How did America become the most prosperous nation in world history?

Alexander Hamilton believed the new nation could break from the old model of conquest and seizure by building wealth through capitalism, invention, enterprise, and trade.

In this episode, I explain Hamilton’s vision for American prosperity—and why the Founders’ economic genius made it possible to create more wealth without taking it from someone else.

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Dinesh D'Souza is an author and filmmaker.  A graduate of Dartmouth College, he was a senior domestic policy analyst in the Reagan administration.  He also served as a research fellow at the American Enterprise Institute and the Hoover Institution at Stanford University.  

He is the author of many bestselling books, including "Illiberal Education," "What's So Great About Christianity," "America: Imagine a World Without Her," "The Roots of Obama's Rage," "Death of a Nation," and "United States of Socialism."  

His documentary films "2016: Obama's America," "America," "Hillary's America," "Death of a Nation," and "Trump Card" are among the highest-grossing political documentaries of all time. He and his wife Debbie are also executive producers of the acclaimed feature film "Infidel."

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Episode Transcript

Speaker 1 (00:15):
For most of human history, wealth was presumed to be finite.
Consider a boy in a playground with ten marbles. How
can he get more? There's only one possibility. He has
to take someone else's marbles. Until relatively recently, wealth was
mostly in land, and the only way to get more
land was to take it. Conquest was the natural mode
of human acquisition, and that's how most countries evolved and

(00:37):
grew through force and conquest. The American Revolution was motivated
in large part by resistance to this old way of
doing things. To put it clearly, the colonists didn't like
the idea that the English Crown could take their money
or property without their consent, no taxation, without representation, they protested. Still,

(00:57):
the control of money and property was only part of
the picture. The bigger challenge would be this, could the
New world find a better alternative to the old world's
conquest and seizure model. Alexander Hamilton, the first Treasurer of
the United States, had the answer. Under his brilliant stewardship,
the new nation developed a new concept of wealth creation

(01:20):
capitalism based on innovation, invention, and enterprise, and it would
be available to every citizen from any background with the
willingness to work for it. America could get more marbles
without seizing anyone's marbles. We would just make new ones. True.
Later in American history, the government seized Indian Land, but

(01:40):
that wasn't Hamilton's idea. And obviously there were inventors and
merchants around before America. But America's the first society to
be based on invention and trade. America, as Carl Marx
later understood, is the capitalist society par excellence. Hamilton was
the man who made it so. Indeed, Hamilton's own life
refine the upward mobility he wanted to be a defining

(02:03):
characteristic of the new nation. Born on the small Caribbean
island of Nevis, he was orphaned at twelve. By fourteen,
he was running a shipping company for a local merchant.
At age twenty, he made his way to New York.
Soon thereafter, he fully embraced the revolutionary cause. By twenty three,
he was George Washington's most trusted aid. At thirty four,
he was running the US Treasury, the largest apartment by

(02:26):
far of the new government. In contrast to Hamilton, the
other leading founders, Washington, Jefferson Madison, were Virginia farmers. If
it were up to them, America would have been set
up as a network of farming communities, with towns conceived
as places where agricultural produce was bought and sold. It
was Hamilton who laid the groundwork for America to become

(02:48):
a prosperous urban, industrial, commercial society. Hamilton and envisioned America
as a nation whose nuclei would be cities centers of
vigorous invention, innovation, and trade, with new types of people entrepreneurs, mechanics, financiers, salesmen,
and so on, all working to enjoy the quote bleasing
reward of their toils. But how to create such a society?

(03:11):
That was the question. How to make New York, which
was then a modest town, into the New York City
we know today, a flourishing center of finance, commerce, publishing,
and the arts. Coming from the islands of the West Indies,
where the buying and selling of human beings was the
defining feature of the economic system, Hamilton well understood how
easily the passion for conquest control over other human beings

(03:33):
could overwhelm man's better nature. Yes, slavery was a lamentable
feature of the new Country. The question for the pragmatic
Hamilton was how to get rid of it. Not immediately
that was impossible, but eventually inevitably. In his mind, there
was only one way, make it easy as possible for
as many people as possible to become as prosperous as possible.

(03:54):
This would happen through the myriad ways of commerce. E
Commerce of this sort, Hamilton knew, would require strong central
government not to curb freedom, but to protect it. The
elaborate system of rights and contracts on which capitalism is
based requires the government to be the neutral arbiter of
the disputes that inevitably arise. A weak central government of

(04:15):
the sort and vision by Jefferson would not be up
to that challenge. To say that these two intellectual giants
butted heads over this question would be an understatement. Fortunately,
Hamilton's vision prevailed. That vision included one more crucial component,
one that's easily overlooked. Patent protection for inventors and innovators.

(04:35):
Article one, Section eight of the US Constitution gives Congress
the power to quote promote the progress of science and
useful arts by securing or limited times to authors and
inventors the exclusive right to their respective writings and discoveries
end quote. No less a figure than Abraham Lincoln would
note that this right the only right listed in the

(04:57):
original Constitution prior to the addition of the The Bill
of Rights accelerated the economic development of the United States
by adding quote the fuel of interest to the fire
of genius in the discovery and production of new and
useful things. It was no accident that within a matter
of decades the United States became the most prosperous nation

(05:17):
in world history. It's no accident because Alexander Hamilton was
there at the founding, the man who understood that, thanks
to capitalism, you don't have to take anyone else's marbles
to get more marbles of your own.