Essay The Wealth Of Nations By Alexander Hamilton

1527 Words Oct 6th, 2014 7 Pages
With settlements turning into colonies in the majority of countries across the world, great scholars in the late 1700s wrote not only about topics like religion and evolution, but also now wrote more on topics like trade, taxes and currency. Most growing economies were faced either with the issue that trade flow was increasing faster than they could deal with, or the issue that there was little to no upsurge in productivity to accommodate the growing populations. Two of many economic philosophers at the time presented resonant ideas that helped to better infant industries. Adam Smith, who was a physiocrat and key figure in the Scottish Enlightenment, wrote his most famous work, “The Wealth of Nations.” A few years later, Alexander Hamilton was appointed the Secretary of the Treasury by the president, George Washington. In order to fully execute his vision of the ideal economic foundation of America, he presented the “Report on Manufactures” to congress. In both works, either man sees the greater goal of a strong, international economy. Nonetheless, their different positions lead to different means for accomplishing this goal. While both social theorists worked towards strengthening America’s economy, Hamilton believed the government would influence more change while Smith believed that the manufacturers themselves would influence more change.
The success of Adam Smith’s ideal economy is rooted in the concept of man himself creating and expanding a system of trade with little…

Related Documents