Why might we be more willing today to carry a deficit than in Hamiltons time?

1 Answer
Apr 20, 2018

His ideas triumphed

Explanation:

The ideas put forward by Hamilton actually triumphed in the course of the twentieth century. Government intervention in the economy gained much credit after the 1929 crisis and the interpretation people had of it. Therefore a massive intervention of the federal government was seen as necessary to substain the economy. Indeed the "blessing" of a "national debt" was seen as necessary to prevent the economy from undergoing difficulties just like in the thirties.