Jefferson And Hamilton Views On America's Economic Future Essay

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Jefferson and Hamilton Views on America’s Economic Future
Thomas Jefferson and Alexander Hamilton played a significant role in in the foundation of the United States as well as in the revolutionary efforts. However, the two advisers to President George Washington only started working together after the appointment of the prior as the secretary of state and the latter as the latter was appointed to head the Treasury. The difference in the thinking and perception of the political and economic environment of the two led to the creation of the political factions that exists in the modern United States. The purpose of this paper is to discuss both Jefferson and Hamilton’s visions of the economic future for the while highlighting the notable differences between …show more content…
He, indeed, refers to the laborers as the people chosen by God. He advocated for the population to be engaged in cultivation entirely while manufacturing was done elsewhere. In his arguments, Jefferson did not play down the importance of manufacturing activities to the country's economy. However, he felt that such activities such as carpentry and masonry ought to have been carried out in Europe. The Republican also acknowledged that carrying out these activities away from the US had the challenge of loss of commodities during transit across the Atlantic (Hoffman, Blum, & Gjerde 167). In spite of this challenge, it was Jefferson's conclusion that the permanence of the government and the happiness thereof were enough compensation for any loss.
On his side, Hamilton believed that if any economic development was to be realized, it had to be hinged on manufacturing. As Hoffman, Edward, and Jon (169) note, Hamilton argued that manufacturing establishments were not only essential in augmenting the society's revenue and produce but also were essential in improving the welfare of its
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