Alexander Hamilton,
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In some measure it might even be described as a A FATEFUL BARGAIN 257 rejoinder to Smith, the weight of whose argument, as is well known, was in favor of free trade. This Hamilton doubtless had in mind when he observed: "Most general theories, however, admit of niunerous exceptions, and there are few, if any, of the political kind, which do not blend a considerable portion of error with the truths they inculcate." Smith admit- ted that particular considerations might traverse the general princi...ples he advocated, as, for instance, after condemning the Navigation Act as adverse to the national prosperity, he abruptly remarked: "As de- fence, however, is of much more importance than opulence, the act of navigation is, perhaps, the wis- est of all the commercial regulations of England." This consideration which Smith dismisses with cm-t mention is drawn out at length with great power in Hamilton's report, not merely as concerns naviga- tion, but in respect of the whole subject of national poHcy.
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To quickly assess the difficulty of the text, read a short excerpt:
In some measure it might even be described as a A FATEFUL BARGAIN 257 rejoinder to Smith, the weight of whose argument, as is well known, was in favor of free trade. This Hamilton doubtless had in mind when he observed: "Most general theories, however, admit of niunerous exceptions, and there are few, if any, of the political kind, which do not blend a considerable portion of error with the truths they inculcate." Smith admit- ted that particular considerations might traverse the general princi...ples he advocated, as, for instance, after condemning the Navigation Act as adverse to the national prosperity, he abruptly remarked: "As de- fence, however, is of much more importance than opulence, the act of navigation is, perhaps, the wis- est of all the commercial regulations of England." This consideration which Smith dismisses with cm-t mention is drawn out at length with great power in Hamilton's report, not merely as concerns naviga- tion, but in respect of the whole subject of national poHcy.
What to read after Alexander Hamilton,?
You can find similar books in the "Read Also" column, or choose other free books by Ford, Henry Jones, 1851-1925 to read onlineMoreLess
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