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What type of economy did the Founding Fathers have in mind for the U.S.?

What did they believe would work? Or did they not get that far before they all died off? Did they want a Capitalist, Communist, Barter, etc. economy. Here is a quote by Thomas Jefferson......""If the American people ever allow private banksto control the issue of their money,first by inflation and then by deflation,the banks and corporations that willgrow up around them (around the banks),will deprive the people of their propertyuntil their children will wake up homelesson the continent their fathers conquered."

I believe they envisioned a true capitalistic economy and nothing short of it , if you earned it it was yours to use at your discretion and nobody had the right to attach it at any time against your will.


Did Communism exist before Capitalism?


Wow that is a good question but I don't think so, wasn't that a product of the manifesto ?


Here is how I have interpreted it....

Capitalism was frowned upon by all, until Alexander Hamilton became the first Secretary of Treasury and (because of greed) realized the potential of establishing private financial institutions as the base of a Capitalistic society. The Manifesto was written because Marx realized that if the economy was ran by private financing (the way Hamilton & the Fedralists wanted it), greed within the Capitalists and private institutions would ultimately result in Plutocracy.

When the Capitalists saw this Manifesto, the immediatly did everything they could to slander and scare people away from it because it would mean all the private financial institutions and corporations would lose there wealthy lifestyles and their power would be returned to the government of the people.

Communism could work if there were better means of checks and balances against corruption. What they didn't tell people is that Capitalism can corrupt the same exact way.

Sean Ong:

We were founded as mercantilist.


It was mostly an agrarian based economy that they had, and understood....There were the shippers on the coast from Charleston to Boston, but it was the Erie Canal that truly changed the balance of power from agrarian to commercial...that was in the 1820's...


So most of them did not get that far before they all died off?


Hi mom. Thanks for that link. It answers some of my questions, but according to it, capitalism is not what was intended......

"As to whether the Framers intended to create a capitalistic order, the weightier evidence balances to the contrary." (3rd paragraph, 1st sentence).

But the last paragraph of that page says that Alexander Hamilton eventually manipulated the situation into a capitalist economy.

"Did the Founding generation contemplate the creation of a capitalistic, free-market economy? No, the majority did not. Had the will of the majority prevailed, had the Jeffersonians prevailed, had those committed to pure republicanism prevailed, the United States would have remained an agrarian, colonial economy destined to become a collection of banana republics."

Thanks again for the link though.




Thomas Jefferson would have been against these bailouts according to his quote,
"I hope we shall crush in its birth the aristocracy of our moneyed corporations which dare already to challenge our government in a trial of strength, and bid defiance to the laws of our country."


bear in mind it was an agrarian society

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