Comments by "BlackFlagsNRoses" (@blackflagsnroses6013) on "Author: How Spoiled Elites Have DESTROYED Hamilton's Radical Legacy" video.

  1. No Stupid how so? Smith did mention the invisible hand three times and the one time for economics was the belief that businessmen would have a home bias to grow national wealth instead of going to foreign markets. He greatly misunderstood what people would do for profit. That’s what Chomsky said
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  2. Here’s the thing. Hamilton is the founder of American Capitalism. His economics were severely better than slavery. But his was still an elitist that wanted a wealthy elite to rule and be the policy making class. Hamilton’s ideals came to fruition under the American School of Henry Clay and the Republican Party of Lincoln. The nail in the coffin of slave economics and full adoption of manufacturers and industrial capitalism. Capitalism is inherently Statist and functions by capitalist influence of the political system. Free markets while usurped by capitalism as synonymous are different things. True slave and plantation owners preferred free trade and limited government as it helped them financially, the small farmers and majority of lower classes or populists also supported limited government intervention in the economy. We are in Hamilton’s America, the GOP under Lincoln transformed the US into it. And it stands to reason that after the nascent period of protectionism and rise of national wealth, tariffs then are no longer economically beneficial. Hamilton notes it as well as he was a protectionist because he wanted to grow American business and wealth. Powers like Britain had the benefit of free trade because they were already developed nations. The USA can benefit from nationalist economics, but it won’t be for building economy, but for a more nationalist interest that won’t necessarily benefit everyone. Ultimately there’s a difference between liberal economics and capitalism. In fact many liberal economists were precursory to socialists and were anti-capitalists. Classical economists were developing labor theory of values, eventually the neoliberal split to place to endorse a capitalist vision of liberal economics.
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  3. Matt Stoller is actually more accurate. Being the founder of American Capitalism isn’t in this age a good thing. He was an elitist, crushed the the Whiskey Rebellion, and was a plutocrat. His system later called American School brought into fruition during Lincoln’s GOP was the beginning of capitalists ruling. Superior to slavery, but not the best system. Hamilton like all others is nuanced, but yeah he was pretty bad, authoritative, and wanted the rule of wealth. Populism arose against Hamiltonian economics.
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