Beard's economic determinism was largely replaced by the intellectual history approach, which stressed the power of ideas, especially republicanism, in stimulating the Revolution. However, the legacy of examining the economic interests of American historical actors can still be found in the 21st century. Recently, in "To Form a More Perfect Union: A New Economic Interpretation of the United States Constitution" (2003), Robert A. McGuire, relying on a sophisticated statistical analysis, argues that Beard's basic thesis regarding the impact of economic interests in the making of the Constitution is not far from the mark.