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Tuesday, May 29, 2012

America versus Hamilton

A. Hamilton did not believe in 'free trade' policy. And he did not abide by a 'service economy' nor in 'speculation.' Everything that America does big today in its economy, Hamilton was against it. Why?

The difference is that Mr. H. (who graces the $10 bill) never lost sight of the national interest. If it does not benefit America don't do it he said. America should make things, he said repeatedly.

Hamilton is known for being pro-banks but the antics of Jamie Dimon and co., who speculate on money and credit rather than offering credit for expansion or factories was not Hamilton's vision. 

The point is not nostalgia for Hamilton's age nor even his policies. Rather it shows how America (but not only her) has become unmoored from national interests. It hardly exists anymore except as a collection of interest groups.