Hamilton's Blessing: The Extraordinary Life and Times of Our National DebtPenguin Books, 1998 - 220 psl. Measured at the staggering amount of $5.1 trillion (and growing every day) the national debt is unfathomable to most Americans. What we may not realize is that the United States was born out of debt. After the Revolution, the brilliant Alexander Hamilton was less interested in paying down the Revolutionary war debt than in using it to create a vibrant national economy. If it is not excessive, he declared, a national debt will be to us a national blessing.In a fascinating narrative brimming with colorful characters, historical accidents, and American ingenuity, business historian John Steele Gordon leads us on a tour of an American institution whose largely unknown story has been integrally entwined with our country's destiny. At key points in U.S. history, Gordon shows how the national debt has been a potent instrument of fiscal policy in keeping the world safe for democracy.But how much debt is too much? At a time when we despair of balancing even a single year's budget, Hamilton's Blessing provides much needed perspective -- and hope. |
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130 psl.
... Keynes , economists had been largely con- cerned with what is now called microeconomics , the myriad allocation of resources that determine prices and affect markets . In effect , economics had been concerned with the trees . Keynes ...
... Keynes , economists had been largely con- cerned with what is now called microeconomics , the myriad allocation of resources that determine prices and affect markets . In effect , economics had been concerned with the trees . Keynes ...
132 psl.
... Keynes's theory has proved to have at least three fatal flaws , recog- nized , alas , only in retrospect , as fatal flaws so often are . Keynes himself , of course , did not live to see his theory fully applied in the real world , for ...
... Keynes's theory has proved to have at least three fatal flaws , recog- nized , alas , only in retrospect , as fatal flaws so often are . Keynes himself , of course , did not live to see his theory fully applied in the real world , for ...
137 psl.
... Keynes so quickly swept the field among economists . It might be called the Madison Effect , in honor of James Madison's famous dic- tum that " Men love Power . " After all , until Keynes , politi- cians had not needed economists for ...
... Keynes so quickly swept the field among economists . It might be called the Madison Effect , in honor of James Madison's famous dic- tum that " Men love Power . " After all , until Keynes , politi- cians had not needed economists for ...
Turinys
The Hamiltonian Miracle | 11 |
Andrew Jackson Redeems the Debt | 42 |
Armageddon and the National Debt | 67 |
Autorių teisės | |
Nerodoma skirsnių: 4
Kiti leidimai - Peržiūrėti viską
Hamilton's Blessing– The Extraordinary Life and Times of Our National Debt John Steele Gordon Peržiūra negalima - 1997 |
Pagrindiniai terminai ir frazės
Adam Smith Alexander Hamilton American economy amount Andrew Jackson Andrew Mellon became began bill bonds borrow British budget deficit capital central bank century Civil Congress Constitution corporate country's course decade deductions Democratic depression dollar economic economists elected fact federal government Federal Reserve federal spending flat tax Founding Fathers Franklin Roosevelt fund Girard Hamilton impoundment income tax increased inflation interest issue J. P. Morgan Jackson Jay Cooke Jefferson Keynes Keynesian Keynesian economic line-item veto loan Madison Effect major Mellon ment million national debt nearly nomic outlays paid percent percentage personal income tax political politicians president programs prosperity quickly raise Republican result rich Roosevelt Senate sharply Social Security soon speculation surplus Taft tariff tax code tax rate tax revenues tax system taxation tion Treasury U.S. government United veto voted Wall Street Washington Watergate scandal White House write to Penguin wrote York