Hamilton's Economic Plan
Alexander Hamilton was one of the Founding Fathers, and was the first Secretary of the Treasury. His economic plan was contained in a series of written works that provided the framework for the nation's economic governance. The underlying objectives of Hamilton's economic plan were to provide the nation with the financial stability it would need in case of war, and was also driven by his Federalist viewpoint, in direct contrast to the many anti-Federalists of the time (SparkNotes, 2015).
The first element of Hamilton's plan was with respect to the pending credit crisis that the new country was to have. As a new country, America had no reputation to draw on with respect to credit. The nation's debts were large and largely unpaid. Roughly half of this debt was owed by the states. Hamilton suggested public bonds as a means of financing wars in particular, but as a means in general of consolidating these debts in order to maintain the nation's good credit standing. He recognized the necessity for this structure because at the time America "is possessed of little active wealth, or in other words little monied capital." Thus, he continued "to be...
Economic Policy and the National Debt Ironically, when governments overspend they typically find ways to refund or restructure debt -- when individuals or corporations within those countries do the same, the consequences are quite different. Money means more than one thing -- usually an object that is traded for payment of goods or services, of exchange. However, when we talk about the government, there is a huge different in the way
One can therefore expect that Israel will benefit from an increase in knowledge-based industry that will continue to power employment and GDP growth. Investment Investment is a triple indicator: relative attractiveness of the country, the type of investment being attracted, and political stability or instability. In comparison to the U.S., all countries save Saudi Arabia are attracting more investment. One would expect that the U.S., as a relatively mature first-world economy,
(Zinn 83) Human societies within the context of civilization most always are organized into deference periods. The Constitution is a product of worldviews developed within such a limited paradigm, as paradigms tend to be, whether individuals -- including the Founders -- were and are aware of it. This condition, in part, touches on what Heilbroner frames as "The Unresolved Problem of Economic Power." He accepts that the wonderful free market
U.S. economic downturn has made many states in the United States to implement strategies to boost economic developments of their respective states using different economic incentives to attract investors. Recognizing the needs to be competitive nationally and globally, New Jersey legislative house has sponsored the "New Jersey Economic Opportunity Act II of 2013" with the aim of fostering an economic development in the state. The goal of Economic Opportunity
Through these three main measures, Alexander Hamilton ensured the main instruments with which a young economy could be built and become competitive in the future: strong public credit, corroborated with a central financial and monetary institution which would regulate monetary policies and with protectionist tariffs that would defend the manufacturing industry against the cheaper imports from Europe. Bibliography 1. Digital History - Online American History Textbook. On the Internet at http://www.digitalhistory.uh.edu/database/article_display.cfm?HHID=6.Lastretrieved on
Each state and many banks eventually developed their own currencies, greatly complicating trade and issues of security, both through increased potential for fraud and a lack of reliable knowledge about the strength of a particular currency at any given time. These issues were seen as largely responsible for a series of financial crises in the nineteenth century, and even in part for the Great Depression. The establishment of a
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