American Economic History - Paper

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American Economic History

Compiled by :
Faishal Hafizh

Table of Content

Background..................................................................................1 Contents.......................................................................................3 Analysis.........................................................................................7 Conclusion....................................................................................9 References...................................................................................10

Background

British influence in American economic thought has been given a strong capitalist pattern in the U.S. economy. In addition, the events that have passed the United States to give its own color in the development of its economy. The incident occurred between other economies such as the United States is still the colonies (colonial economy), the beginning of modern capitalism, the struggle for independence, the Civil War (Civil War), the rapid growth of the domestic market, and expansion into new territories.

Beginning of economic thought in the United States showed no peculiarities of a thought. Some thoughts are discussing about general issues or economic debate in the UK and France. But not entirely so, Roger Williams argued the principle of 'corporate freedom' that combine the desires of the (divine commands) with commercial interests (needs of commerce). William Penn, a relation of Sir William Petty, analyze the relationship between economic colonies and cities (metropole). At this time, Penn with several other thinkers thought sparked the so-called recurrent leitmotiv: monetary reform, reliance on credit and paper money.

Benjamin Franklin (1706-1790) is one of the political-economic thinkers though can not be termed as pure economists. Franklin better known by the views and thoughts on political issues. His first book, published when he was 23 years old, A Modest Inquiry into the Nature and Nacessity of Paper Currency, pernyataannnya load about value (value), which is almost similar to the statements in the Treatise Petty.

Another book, Observations Concerning the Increase of Mankind (1751), Franklin joined with other writers who are trying to anticipate the views or Malthusian theory of growth. Franklin wrote a couple of posts in a variety of economic topics. Overall writings illustrate that Franklin is a smart and pragmatic.

During the Post-Revolutionary happened fiscal and monetary difficulties that made Confederation (Confederation) conduct discussions and share printing resources literature on this issue. Alexander Hamilton and Albert Gallatin are two well-known writers of the time. They both are finance secretary Thomas Jefferson. While Thomas Jefferson as a socio-political expert just a little about economic issues.

It took three decades to come up with economic problems as one of the main issues. The industrial revolution in England which refers to the economy Classic Smith, Say and Ricardo initially not so enthused. Until the 1830 Atlantic states began to develop the industrial sector and the opening of the West, the study of political economy was introduced and taught at the middle level public and university.

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American economic thinkers include: John Rae, through his book, Statesment of Some New Principles on the Subject of Political Economy, etc.. (1834), he rejected the doctrine of free trade 'free trade' in the Wealth of Nations 'Commonwealth of Nations' and sociological aspects of the theory of capital.

Henry C. Carey (1793-1879) a Saxon Classical and free trader eventually like Fitche and List, will change his views on the economy. In Principles of Political Economy and expressed some of his writings about the labor theory of value and belief about the possibility of the addition of the position of the working class. Carey can also be called as one of the inventors...
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