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June 08, 2007

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DR

i think he means
the rubinomics behind
the present day
hamilton project

not the hoary thinkitry produced in the
constituted
republic's year zero

in fact that brilliant elitest bastard
would prolly
have this nyt pollywog
fried
for his dogs' breakfast

Roy Haddad

The market is failing to supply enough human capital? Where are we?

Jim

There is also Douglas Irwin's "The Aftermath of Hamilton's Report on Manufactures," Journal of Economic History, September 2004.

Abstract: Alexander Hamilton’s Report on Manufactures (1791) is a classic document in the history of U.S. economic policy, but its fate in Congress is not well known. It is commonly believed that the report was never implemented. Although Hamilton’s proposals for bounties (subsidies) failed to receive support, virtually every tariff recommendation put forward in the report was adopted by Congress in early 1792. These tariffs were not highly protectionist duties because Hamilton feared discouraging imports, which were the critical tax base on which he planned to fund the public debt. Indeed, because Hamilton’s policy toward manufacturing was one of encouragement and not protection, those interests shifted their political support from the Federalists to the Jeffersonian Republicans during the 1790s.

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