Tuesday, October 21, 2008

Hamilton's Curse: The Current Crisis Is Alexander Hamilton's Fault

The current economic problems are the result of America living under Hamiltonian mercantilistic conditions where essentially the economic and political system that Americans have lived under for several generations now is a king-like president who rules through "executive orders" and disregards any and all constitutional constraints on his powers; state governments that are mere puppets of the central government; corporate welfare run amok, especially in light of the most recent outrage, the Wall Street Plutocrat Bailout Bill; a $10 trillion national debt ($70 trillion if one counts the government's unfunded liabilities); a perpetual boom-and-bust cycle caused by the Wizard of Oz–like central planners at the Fed; constant military aggression around the world that only seems to benefit defense contractors and other beneficiaries of the warfare state; and more than half of the population bribed with subsidies of every kind imaginable to support the never-ending growth of the state. This is Hamilton's curse on America wrires Thomas DiLorenzo.

Read DiLorenzo's scholarly take on Hamilton here.

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