Analyzing Government Borrowing and Public Debt in Historical and Contemporary Contexts

Alexander Hamilton, the first U.S. Secretary of the Treasury, is somewhat of a pop culture phenomenon thanks to a hit musical about his life. But a new book called The Hamilton Scheme dives into a less-known part of Hamilton's legacy — his vision for public debt. In today's interview, author and historian William Hogeland speaks with NPR's Steve Inskeep about why Hamilton considered higher loans to be paid by the federal government a good thing, and how that can be traced to today's relationship between China and the United States.

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