Industrial Policy and the Forgotten Side of Alexander Hamilton
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 15 March 2024
⏱️ 55 minutes
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Summary
Thanks to the blockbuster musical, Alexander Hamilton has become a modern cultural icon. He's known as an architect of the federal system, building out a strong government with the capacity for both borrowing and spending. But there's another side of his vision that doesn't get as much attention, and that's his belief in the importance of state-directed investment to build out a domestic manufacturing industry. Basically, he was an early advocate for industrial policy. Given that the US is currently in a phase of building out domestic manufacturing capacity in various areas, it's time to go back and look at the history of these efforts in the US. We speak with Christian Parenti, a professor at John Jay College in New York, and the author of Radical Hamilton: Economic Lessons from a Misunderstood Founder, about this other side of Hamilton, and the economic context in which he developed this vision.
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| 0:03.3 | Here are some thoughts from EY and real-time insights. |
| 0:06.7 | The best way I can analogize if you think back to 30 years ago with spreadsheets |
| 0:10.1 | at that point in time most tax planning and processes were done with a pencil paper and a calculator. |
| 0:15.0 | But everyone thought that was going to remove the need for tax professionals. |
| 0:18.0 | The reality is that they learned how to code spreadsheets. |
| 0:20.0 | They learned how to build better business insights, worse scenarios's worse scenarios and years later there's more |
| 0:24.0 | tax jobs than ever and so we see AI is having the same impact. Learn more at EY.com. |
| 0:30.7 | Othage County, Oklahoma is getting a lot of attention right now. |
| 0:34.4 | It's the setting of Martin Scorsese's latest film, |
| 0:37.8 | Killers of the Flower Moon. |
| 0:40.0 | The movie's based on a book about the 1920s Osage murders, |
| 0:44.1 | when white men poured into Osage County |
| 0:46.4 | and killed Osage people for their oil wealth. |
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| 0:56.8 | For over a year I was reporting a different story about other ways white people got |
| 1:02.1 | Osage, land land and wealth, |
| 1:04.0 | and how a prominent ranching family in Osage County |
| 1:07.0 | became one of the biggest landowners here. |
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| 1:17.0 | So how did they get it? |
| 1:19.0 | Listen to the award-winning podcast, Trust on the I Heart Radio app Apple |
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