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Hamilton's Blessing by John Steele Gordon (1998, Paperback) 
Hamilton's Blessing by John Steele Gordon (1998, Paperback)

 
Hamilton's Blessing by John Steele Gordon (1998, Paperback)

Publisher: Penguin Group USA
Publication Date: 1998-01-01
Language: English
Format: Paperback
ISBN-10: 0140270159
ISBN-13: 9780140270150
Product ID: EPID363674
Description: A history of the national debt, written by a prominent financial journalist and broadcaster. Gordon describes how Alexander Hamilton foresaw the national debt as a source of political stability, insofar as it provided a financial incenti...
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Synopsis
A history of the national debt, written by a prominent financial journalist and broadcaster. Gordon describes how Alexander Hamilton foresaw the national debt as a source of political stability, insofar as it provided a financial incentive for the fledgling republic's creditors to keep the government in power. The result, in Gordon's view, has been the most stable republican government in history.

Details
Publication Date:1998-01-01

Size
Height:8.3 in
Width:5.3 in
Thickness:0.5 in
Weight:5.6 oz

Publisher's Note
In a fascinating narrative brimming with colorful characters, historical accidents, and American ingenuity, business historian John Steele Gordon leads readers on a tour of an American institution whose largely unknown story has been integrally entwined with our country's destiny. At key points in U.S. history, Gordon explains how the national debt has been a potent instrument of fiscal policy in keeping the world safe for democracy.

Measured at the staggering amount of $5.1 trillion (and growing every day) the national debt is unfathomable to most Americans. What we may not realize is that the United States was born out of debt. After the Revolution, the brilliant Alexander Hamilton was less interested in paying down the Revolutionary war debt than in using it to create a vibrant national economy. "If it is not excessive," he declared, "a national debt will be to us a national blessing." In a fascinating narrative brimming with colorful characters, historical accidents, and American ingenuity, business historian John Steele Gordon leads us on a tour of an American institution whose largely unknown story has been integrally entwined with our country's destiny. At key points in U.S. history, Gordon shows how the national debt has been a potent instrument of fiscal policy in keeping the world safe for democracy. But how much debt is too much? At a time when we despair of balancing even a single year's budget, Hamilton's Blessing provides much needed perspective - and hope. • Author writes the "Business of America" column in American Heritage magazine and is heard often on public radio's "Marketplace."

Industry Reviews
"Mr. Gordon's subject may well be dismal, but his delivery of it is short and stimulating."
New York Times - Christopher Lehmann-Haupt (02/06/1997)

"When the Aymara Indians of the Andes first encountered the modern monetary system, they had no word for debt, so they called it guano, their word for manure....John Steele Gordon's absorbing new book chronicles the way the United States has amassed its guano over the past two centuries."
Civilization - Jack Weatherford

"A fascinating account of a national institution, lively...highly entertaining and informative."
Washington Post - George F. Will

"Gordon deftly profiles a gallery of financial figures, including aluminum magnate Andrew Mellon (Harding's treasury secretary and the father of 'trickle-down economics') and tough, tubercular Federal Reserve boss Benjamin Strong, whose ill-timed death triggered the 1929 crash."
Winfrey

"For those seeking to understand the national debt, this book is a good place to start - it's just not a good place to stop."
O'Brien

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