National Prosperity and Free Enterprise: Is There a Connection?

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Natural Rights as the Foundation of Property Ownership

Both Thomas Jefferson and Alexander Hamilton recognized natural rights as the cornerstone of property ownership. They believed that humans possess natural rights, including the right to property, due to their inherent existence and free will. They derived property rights from the concept of self-ownership and the actions and labor of individuals, leading to the acquisition of private property.

Jefferson and Hamilton Shared a Concern About Property Rights

Jefferson’s emphasis on the right to labor and ownership of property, and Hamilton’s view that private property should be protected to encourage investment and economic growth, demonstrate a shared concern for the protection of property rights.

Different Perspectives on Wealth: Hamilton vs. Smith and Jefferson

Hamilton’s initial adherence to mercantilist ideas, which emphasized a positive balance of trade and state intervention in the economy, contrasted with Smith and Jefferson’s belief in free trade and the idea that wealth is not defined by money but by the purchasing power of money.

The History and Governance of America Master’s Program

The program offers a master’s in American History and Government. You can get more information about the program by visiting the website at tah.org.

Jefferson and Hamilton’s Views on Wealth and National Prosperity

Jefferson and Hamilton generally agreed that national prosperity is a good thing. However, they had different views on how to achieve it. Jefferson believed that a nation of independent farmers would be more prosperous than a nation of industrial workers. Hamilton, on the other hand, believed that a strong economy was essential for a strong country and that government should promote economic growth.

The American Civic Tradition: A Unique Focus on Education

The American education system was designed to prioritize preparing individuals for independence and self-sufficiency, empowering them to navigate life and make informed decisions without relying on others.

Financial Literacy: An Essential Civic Duty

Americans need to be financially literate to effectively manage their personal finances and comprehend public finance and economics. Founders like Jefferson and Adams recognized this need, emphasizing that financial responsibility is a crucial civic duty.