How did America fund their revolution and what effects did that choice have? Explore this question with author John Steele Gordon in his talk “The Economics of the Revolution.”
Witness the sacrifice of Robert Morris, whose patriotism in personally financing the revolution gave him the name “financier of the Revolution”. Explore the devastation wrought by the Continental dollar, a form of paper currency that became so devalued it nearly pushed the young republic to the brink of financial ruin. Be inspired by the financial genius of Alexander Hamilton, whose policies single-handedly turned America from a fiscal basket case into an economic miracle.
“The Economics of the Revolution”
John Steele Gordon
Author, An Empire of Wealth: The Epic History of American Economic Power
This speech was given on March 2, 2026, during a Hillsdale College CCA seminar, “1776”.
Chapters
0:00 Introduction: America's 250th Anniversary & Colonial Prosperity
1:24 Colonial Economy: Prosperity, Growth, and Immigration Before the Revolution
5:22 Economic & Political Causes of the Revolution
9:33 Military Advantages & Disadvantages in the Revolutionary War
11:06 The Saratoga Blunder
13:32 Financing the Revolution: The Continentals & Runaway Inflation
21:34 Robert Morris: The Financier Who Saved the Revolution
24:00 The Bank of North America & Stabilizing the Currency
27:46 Post-War Economic Crisis & the Road to the Constitution
32:08 Hamilton's Treasury & America's Financial Transformation
33:03 Q&A
