Compare and contrast Hamilton’s and Jefferson’s visions of the future

Compare and contrast Hamilton’s and Jefferson’s visions of the future economic development of the United States. Which vision do you believe most assured the future economic growth and stability for the country?

Answer:

ANSWER
An ideal answer will:
1. Compare and contrast Hamilton’s vision of a more complete economy within the United States that included supporting development of the manufacturing and agrarian sectors. Hamilton desired the creation of factories to create finished goods from raw materials for both domestic consumption and export with Jefferson’s narrow view of an economy dominated by agrarian interests and concerns that would export raw materials.
2. Compare and contrast Hamilton’s vision promoting open immigration to provide a plentiful supply of new workers to keep wages low with Jefferson’s more skeptical view of open immigration.
3. Compare and contrast Hamilton’s support of higher tariffs to protect new industries and government incentives to help launch those ventures when private investment was insufficient to Jefferson’s opposition to such economic policies by the federal government as overregulation of the nation’s economy.
4. Compare and contrast Hamilton’s desire to build a network of roads and canals to help commerce flow to Jefferson’s belief that Hamilton’s proposal would turn America into predominately a manufacturing and trading society rather than an agrarian society.
5. Compare and contrast Hamilton’s view and Jefferson’s view about the use of the “general welfare” clause of the Constitution to regulate different and various aspects of the nation’s economy.
6. Compare and contrast Hamilton’s support for a federal Bank of the United States with Jefferson’s adamant opposition to the federal bank and how their views were tied to their overall visions of the future economic development of the United States.
7. Write a concise and effective conclusion that supports your view about whether Hamilton’s or Jefferson’s vision of America’s economic future was preferable to ensure healthy economic growth.