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An economics and history argument, Beard’s thesis was vastly controversial during the early 1900s. Numerous academics have debated over the thesis, its meaning, and eventually questioned its legacy. In this thesis, Beard says that the process of forming the constitution succeeded over the interests of citizens. This is because the drafters of this constitution comprised mostly of federalists, large property owners, bankers, traders, capitalists, and creditors, whom Beard noted as substantial owners of “personality.1” In contrast, United States citizens largely constituted of farmers, debtors, small property owners, and people of moderate riches. This population demographic still holds almost entirely true a hundred years after the publication of Beard’s thesis. As a result, Beard’s proof for his thesis has not primarily overturned the claim despite criticisms that have collectively deteriorated it.
Scholars like Harold Faulkner committed two sections to a discussion about the geneses of this war in his 1943 work “American Economic History.” Here, Faulkner says the impacts of the Civil War on America’s industrial, financial, and trading history were great2. According to scholars Sparrow and OBrien, Beard does not seem to overdo his hand in his argument about the founding fathers and the constitution of the United States. Rather, Beard underemphasizes his argument in the sense that he abandons the inferences that ensue from his inadequate focus on American citizens, who are largely average property holders3.
Economics academic Roger Ransom says Beard exempted the wisdom and commitment of America’s founding fathers from his history. Ransom says the founding fathers overpowered their shallow self-interests to generate a masterful document for a whole nation. Using Robert Morris and Nathaniel Gorham as examples, Ransom says
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