What does the American school of Economics mean to you?

I am asking for a true debate on this subject for or against the current system of Keynesian and Austrian economics over the Old Proven system of American economics.

What does the American school of economics mean to you?

Doright said:

I am asking for a true debate on this subject for or against the current system of Keynesian and Austrian economics over the Old Proven system of American economics.

What does the American school of economics mean to you?

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There's no such thing. At least i don't think there is.

StillBallin75 said:

There's no such thing. At least i don't think there is.

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Yes, there is. The American school of thought on economics involves a free market and limited regulation so as not to stifle private sector growth.

apdst said:

Yes, there is. The American school of thought on economics involves a free market and limited regulation so as not to stifle private sector growth.

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Yeah. That has nothing to do with the question.

In terms of economic theory there is no such thing as the "American school of economics."

StillBallin75 said:

Yeah. That has nothing to do with the question.

In terms of economic theory there is no such thing as the "American school of economics."

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I don't think he meant, "American school of economics", literally.

The American School, also known as "National System", represents three different yet related constructs in politics, policy and philosophy. It was the American policy for the 1860s to the 1940s, waxing and waning in actual degrees and details of implementation. Historian Michael Lind describes it as a coherent applied economic philosophy with logical and conceptual relationships with other economic ideas.[1]

It is the macroeconomic philosophy that dominated United States national policies from the time of the American Civil War until the mid-twentieth century[2][3][4][5][6][7] (closely related to mercantilism and prior to Keynesian economics, it can be seen as contrary to classical economics). It consisted of these three core policies:
1.protecting industry through selective high tariffs (especially 1861–1932) and some include through subsidies (especially 1932–70)
2.government investments in infrastructure creating targeted internal improvements (especially in transportation)
3.a national bank with policies that promote the growth of productive enterprises rather than speculation.[8][9][10][11]

It is a capitalist economic school based on the Hamiltonian economic program.[12] The American School of capitalism was intended to allow the United States to become economically independent and nationally self-sufficient.

The American system HAS NOTHING TO DO WITH FREE TRADE!

Free trade is BAD! Free trade is colonialism or Imperialism in disguise. The moral category is wide, including concerns of income inequality, environmental degradation supporting child labor and sweat shops, race to the bottom , wage slavery, accentuating poverty in poor countrys harming national defence and forcing cultural change.

Free trade creates a Two class society of rich and poor.

Doright said:

The American School, also known as "National System", represents three different yet related constructs in politics, policy and philosophy. It was the American policy for the 1860s to the 1940s, waxing and waning in actual degrees and details of implementation. Historian Michael Lind describes it as a coherent applied economic philosophy with logical and conceptual relationships with other economic ideas.[1]

It is the macroeconomic philosophy that dominated United States national policies from the time of the American Civil War until the mid-twentieth century[2][3][4][5][6][7] (closely related to mercantilism and prior to Keynesian economics, it can be seen as contrary to classical economics). It consisted of these three core policies:
1.protecting industry through selective high tariffs (especially 1861–1932) and some include through subsidies (especially 1932–70)
2.government investments in infrastructure creating targeted internal improvements (especially in transportation)
3.a national bank with policies that promote the growth of productive enterprises rather than speculation.[8][9][10][11]

It is a capitalist economic school based on the Hamiltonian economic program.[12] The American School of capitalism was intended to allow the United States to become economically independent and nationally self-sufficient.

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I didn't know that. Do you have any links?

StillBallin75 said:

I didn't know that. Do you have any links?

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American School (economics) - Wikipedia, the free encyclopedia

There is the whole link to the beginning of what Doright posted.

The basic idea behind American Economics is what a federal government can do to best help develop industries, whether through direct or indirect means. Alexander Hamilton is most often associated with it given the role he played in developing the American economy after the American Revolution.

Doright said:

The American School, also known as "National System", represents three different yet related constructs in politics, policy and philosophy. It was the American policy for the 1860s to the 1940s, waxing and waning in actual degrees and details of implementation. Historian Michael Lind describes it as a coherent applied economic philosophy with logical and conceptual relationships with other economic ideas.[1]

It is the macroeconomic philosophy that dominated United States national policies from the time of the American Civil War until the mid-twentieth century[2][3][4][5][6][7] (closely related to mercantilism and prior to Keynesian economics, it can be seen as contrary to classical economics). It consisted of these three core policies:
1.protecting industry through selective high tariffs (especially 1861–1932) and some include through subsidies (especially 1932–70)
2.government investments in infrastructure creating targeted internal improvements (especially in transportation)
3.a national bank with policies that promote the growth of productive enterprises rather than speculation.[8][9][10][11]

It is a capitalist economic school based on the Hamiltonian economic program.[12] The American School of capitalism was intended to allow the United States to become economically independent and nationally self-sufficient.

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One-Tariffs cause wars. Tariff and shooting wars. That's a negative
Two-Eisenhower's Highway system was a master stroke, a real success. Jimmy Carter tried to initiate the same type shift with energy and could not get any suppot. Energy conservation and common sense. Hindsight will prove him to have 20/20 foresight.
Three-We have national bank policies that promote the growth of banks to try and make old debt smaller by comparison. I see no enterprises that create labor and commerce at local levels supported by the Federal Reserve Corporation.
Our Treasury colludes with the Fed to promote confidence and faith in the fiat and keystroke currency that is printed 24/7. As long as the world is confident that their faith in the currency is fed by daily ablutions of more confidence and continued faith, all is well. Ain't that a hell of a base for a money. Ya' got's to have faith brotha. I got's a nice used car for you and I'm confident that your continued faith in my confidence will reward you confidentially.

BS! Tariffs do not cause wars! every country has tariffs /import export taxes EXCEPT America! with its FREE trade policies! currently in effect Dragging the US down with free trade allowing OFF-SHOREING! wich EXPORTS ARE JOBS! and our INDUSTRIES.

Free trade goes hand in hand with OFF SHOREING Americas is LOOSING all its Industry to overseas CHEAP labor just look at the Airline industry American airlines THE LAST airline to CAVE into OFF SHOREING NOW all of its planes will be overhauled in EL SALVADOR like every other airline out there WITH UNLICINCED MECHANICS!

OTHER industry Jobs as well JOBS to India Japan CHINA etc..... we are NOT talking about just Telemarketers were talking about hi paying LABOR HI skilled LABOR GONE to cheap labor.


When is enough enough when are AMERICANS going to wake up and stand behind a polititian that wants to bring our jobs and INDUSTRY BACK to the UNITED STATES!


I work for American airlines If I want to stay in the industry I have to move with the JOB Say good by to my income that supports other Americans 75K to 100K yearly! Im going to EL Salvador OR CHINA as that's were the planes are being fixed gone are my TAX base as well as contributing to local TAXES and industry ITS the same for all other Industries as well US companies are ALL doing this stuff they want the cheap labor! and believe me when I get to these countrys I will still make a good living but I will not be a US citizen any longer I wont contribute to our Tax base any longer.


GOOD BYE Social security Good buy Medicare good by affordable housing with Fanny may and Freddy Mac good BYE Welfare HELLO EXTREAME HI TAXES!

Some people just cant SEE whats really comeing down the road

It means Economic Imperialism. Corporatism and capitalism.

TheDemSocialist said:

It means Economic Imperialism. Corporatism and capitalism.

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I Dont get were your comeing from Imperialism is what we have NOW

Maybe this should be down to Economics?I think TNAR and Rapsody would have much to say about the American School of Ecomomics.

I've never covered it, alli can say as it breaks a fundamental of current economic trade. Protectionist measures stifle competion, increase prices and reduce innovation, promote mediocrity.

More to come, when I get off my iPad.

TheDemSocialist said:

It means Economic Imperialism. Corporatism and capitalism.

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I Don't get were your coming from Imperialism is what we have NOW

But every thing else is basically what we had making America great prior to 1970


To many Americans think that socialist idealism is bad but they Like Social security and Medicare wich are at the heart of the whole idea they just dont like what it really is at heart when its final names come out. there both a socialist program like it or not. and when we dont have Tariffs or Taxes on imports and exports there is no way to pay for these programs plain and simple if we to Tax are selves to pay for them be prepared for 50-75 % income Tax to save the programs with free trade and OFFshoring.

Truth is all are in favor they just want it to be called inport TAX and EXPORT tax wich is all it really is and it protects JOBS hear inside the country from foreign competition. Not a bad thing when you come right down to the brass tax of it all.

Beats the perfect world, perfect free idea with the rest of the world wich will never happen. America has been trying to get open free trade for so long now while Americans go broke when when others really do the research and study to realize what made us great was we were a socialist country to begin with and theres nothing wrong with going back to what worked. We are never going to get the rest of the world to see things are way.

Its just that The rest of the world is screwed up worse than we are and as long as we keep giving they keep taking all the while devaluing America when is enough! enough? and we need to go back to what works?

STEWART You nailed the head RIGHT on TOP!!!!!! It is all about economics and your thoughts are strait on


But what is so bad about it all REALLY when it worked so well before dont get me wrong I hate being called a socialist myself but America as I knew it was a socialist country by nature BUT it wasn't called socialist but like it or not we had socialistic programs SS and Medicare and trade Tariffs or Taxes protected are jobs, are products and countrys welfare from unfair competition of cheap wages it also forced the rest of the world to deal with are standard of living it forced other countrys dollars to compete with are dollars strait on so we didn't loose money in exchange.


Just this last two weeks I have been trying to sell my Ferrari for years suddenly people from all over the world are calling me now because the dollar took another dip down when is enough enough ?????? It took so much of a dip that a guy from Germany flew over looked at old POS non running paid my price and is shipping car home.... whats that tell me????? Im just a dumb old mechanic but the dollar is WORTHLESS currently!!!!! what are we as Americans going to do about it though?????


OH I KNOW ELECT ANOTHER LIBERAL! with there the world is a wonderful place and the whole world should have free trade and to prove it will start free trade are selves first.
Meanwhile NO other countrys are doing free trade and there sucking up out industries and Jobs just as fast as MNC will transfer them.


That's the whole truth to Liberalism in a NUTSHELL in LAYMEN TERMS LIKE IT OR NOT!

Spaceman_Spiff said:

American School (economics) - Wikipedia, the free encyclopedia

There is the whole link to the beginning of what Doright posted.

The basic idea behind American Economics is what a federal government can do to best help develop industries, whether through direct or indirect means. Alexander Hamilton is most often associated with it given the role he played in developing the American economy after the American Revolution.

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Looks like a rehash of mercantilism.
Pass. :coffeepap

Gee, are we talking about the Krugman School of Economics or the Milton Friedman School of Economics? One is based on socialism, one is based on capitalism.