- The basis of “Hamilton’s Curse” [by Thomas DiLorenzo] is simple. That, although the Jeffersonian philosophy of federalism initially triumphed when the U.S. Constitution and Bill of Rights were adopted, it is Hamilton’s vision of a strong, imperialist central government that has ultimately come to pass, and that we live under today. DiLorenzo provides us with a laundry list which gives us an overview of Hamilton’s political legacy:
“an out-of-control, unaccountable, monopolistic bureaucracy in Washington, D.C.; the demise of the Constitution as a restraint on the federal government’s powers; the end of the idea that the citizens of the states should be the masters, rather than the servants, of their government; generations of activist federal judges who have eviscerated the constitutional protections of individual liberty in America; national debt; harmful protectionist international trade policies; corporate welfare (that is, the use of tax dollars to subsidize various politically connected businesses); and central economic planning and political control of the money supply, which have instigated boom-and-bust cycles in the economy.”
That’s quite a legacy. Alexander Hamilton was this nation’s first Treasury Secretary, and a defender of the central bank, high taxes, protectionist tariffs, and public debt. Each of these, according to Hamilton, would bring with them untold blessings to the American people if instituted. It was Alexander Hamilton who sought to establish the first central bank. It was Hamilton who instituted the very first “bailouts.” It was Hamilton who unapologetically doled out favors and taxpayer funds to his personal friends and business associates. It was Hamilton’s belief in the “implied powers” of the Constitution that gave us the Judicial Review, the “living” Constitution, and justices legislating from the Supreme Court bench. It was Hamilton who espoused deficit spending by the federal government. Anytime you hear a politician talking about all of the wonderful things that the federal government can do for the “public good,” chances are you are listening to a Hamiltonian.
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2 comments:
"It is a capital mistake to theorize before one has data. Insensibly one begins to twist facts to suit theories, instead of theories to suit fact." Arthur Conan Doyle.
Tom DiLorenzo's book is a classic promation of twisting and mistrepresnting facts to promote his theory.
I loved Chernow's book on Hamilton. But it's interesting how two authors can research the same man and come to different conclusions.
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