Odd Lots Industrial Policy and the Forgotten Side of Alexander Hamilton
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Mar 15, 2024 
Christian Parenti, a professor at John Jay College and author of "Radical Hamilton," dives into Alexander Hamilton's lesser-known industrial policies. He reveals Hamilton's vision for transforming the U.S. from an agrarian society into a manufacturing powerhouse through state-directed investment. Parenti connects Hamilton's insights to today's economic challenges, emphasizing the necessity of historical context in modern industrial strategy. The conversation also contrasts romanticized farming ideals with the harsh realities of agrarian life, illustrating the need for thoughtful government intervention.
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Hamilton's Forgotten Legacy
- Hamilton's economic vision was controversial from the start, facing pushback from those who prioritized free markets and minimized government's role.
- This led to his ideas, particularly those on industrial policy, being overlooked in traditional narratives of American capitalism.
Economic Context of Hamilton's Vision
- British mercantilist policies restricted colonial manufacturing, pushing some towards revolution.
- After the war, the US economy was underdeveloped, lacking infrastructure and a unified financial system.
Revolutionary War Hardships
- During the Revolutionary War, soldiers faced dire conditions, rebelling due to lack of pay and resorting to hunting wild pigs for food.
- This highlights the critical role of supply chains and real goods in military conflicts and government operations.
