When you sing happy birthday to Alexander Hamilton today, please just think of this upward sloping (logarithmic) economic growth line: Today, 257–or maybe 259–years ago (no one is positive) on the Caribbean island of Nevis, Alexander Hamilton was born. Only…
Alexander Hamilton must have been worried. In 1790, as Secretary of the Treasury, a troubled economy had become his responsibility. He had a huge federal debt to fund, a banking sector that was distressed, and an economy to stimulate. Sound…
Thomas Jefferson and President Obama had similar concerns about financial speculators. In 1790, Thomas Jefferson opposed funding the domestic part of the Revolutionary War debt if the financial speculators who bought bonds at a depressed price would benefit. Instead Jefferson…
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