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To: arrogantsob
None of his enemies came close to producing state papers of such immense importance to the development the modern capitalist economy as were those of Hamilton.

What utter bull. Hamilton was a rambling, economically illiterate neo-mercantilist. His policies obtained political popularity for the same reason that mercantilists normally do - they're great for dispensing the favors of government to politically connected interests. But capitalist economics they are not, and no credible economist today on the free market side of things considers Hamilton a sound thinker.

The people who think fondly of Hamilton's economics, on the other hand, are illustrative of his folly in their own right: the Keynesians, who tolerate him as a forbearer, and the LaRouchies who practically worship him.

797 posted on 09/10/2010 7:35:22 AM PDT by conimbricenses (Red means run son, numbers add up to nothing.)
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To: conimbricenses
Hamilton's program was more state capitalism than true mercantilism but even his enemies acquiesced to the Hamilton program after taking power. Of course, the program added to the power of capitalists only reactionaries wanted something else. Capitalism NEVER developed as Free Markets and there has never been a capitalist system which was not heavily influenced by the state. All else is just theory. Hamilton little concern with theory only strengthening the nation and Union through practical means. And don't pretend that other "...politically connected interests..." were not his principle opposition. Don't pretend that the core of his opposition to the national debt assumption program was not the land speculators whose schemes depended upon the debt remaining cheap. They bought it for cents on the dollar and bought state and federal land with it valued as a dollar. But when it became worth an actual dollar it ruined them.
803 posted on 09/10/2010 8:07:02 AM PDT by arrogantsob
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