This Mises commentary analyzes Franklin’s failure as an economist, especially his recommendations regarding increasing the amount of paper money as a way to spur economic activity and prosperity. I recently completed a wonderful biography of Franklin, “The First American” by H.W. Brands. Brands reports that PA and NJ awarded Franklin contracts to print their money. Not to disparage the motives of this great patriot, but maybe his views on paper money were influenced by his printing contracts.
