"No nation was ever ruined by trade"

Benjamin Franklin’s declaration, “No nation was ever ruined by trade,” reflects an Enlightenment worldview that values commerce as a force for social, economic, and even political improvement. Trade, as he observed, creates opportunities for nations to benefit mutually rather than act solely in self-interest or isolation. Commerce allows countries to acquire goods they do not themselves produce easily, stimulating production, encouraging innovation, and providing wider choices to consumers and producers alike. When nations engage in open exchange, they tend to become wealthier, their industries more prosperous, and their people better off.

Franklin understood that restrictive or protectionist policies might guard certain domestic interests in the short term but stifle growth and make nations less competitive over time. By opening channels to foreign goods and ideas, nations expose themselves to best practices and new technologies, which can be adopted and refined domestically. This competition helps drive progress, efficiency, and ultimately, prosperity. Franklin’s era saw the rise of mercantilist thinking, where governments often tried to maximize exports and limit imports, fearing that foreign trade was a zero-sum game. His view challenges this assumption, suggesting that exchange creates wealth rather than merely shifting it.

Fostering economic interdependence may also promote peace, since nations that trade find common interest in cooperation over conflict. By linking their fortunes, they are less likely to jeopardize these beneficial ties for short-term gain. Furthermore, the enrichment brought by trade delivers broader tax bases and greater government revenues, equipping states to pursue education, security, and public welfare. Trade can also serve as a vehicle for cultural exchange, exposing societies to new ideas and customs, which can stimulate intellectual and artistic growth.

While trade can create winners and losers within a nation, Franklin posits that, on the whole, it wields transformative power for the better. Far from bringing ruin, it is a potent driver of human advancement and prosperity.