Motley Fool Money Ben Franklin: Founding Father of Microfinance and Open-Source Tech
Oct 2, 2022
Michael Meyer, a Professor of English at the University of Pittsburgh and author of "Benjamin Franklin's Last Bet," dives into the intricacies of Benjamin Franklin’s financial life. They discuss his mistakes in estate planning and his revolutionary ideas around microfinance aimed at empowering the working class. Meyer also shares amusing insights into Franklin's personality, including his innovative swimming fins and commitment to self-improvement. The conversation balances Franklin's complex legacy with his significant contributions to American prosperity.
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Franklin Excludes University from Will
- Ben Franklin, surprisingly, excluded the University of Pennsylvania, which he founded, from his will.
- He was disappointed it became an elite school, straying from his vision of practical, working-class education.
Source of Franklin's Wealth
- Ben Franklin's wealth stemmed primarily from his printing business, not inventions, through franchising and shrewd business practices.
- He embraced open-source technology, allowing others to benefit from his inventions, boosting his reputation.
Divisive Death
- Franklin's death was divisive, with disagreements on appropriate mourning.
- Congress, including figures like Washington and Adams, was split on honoring him, highlighting existing political factions.
