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The American Schoolalso known as the National Systemrepresents three different yet related constructs in politics, policy and philosophy. It was the American policy from the s to the s, waxing and waning in actual degrees and details of implementation.

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Historian Michael Lind describes it as a coherent applied economic philosophy with Economic System And Economic Systems and conceptual relationships with other economic ideas. It is the macroeconomic philosophy that dominated United States click here policies from the time of the American Civil War until the midth century.

It consisted of these three core policies:. During its American System period, the United States grew into the largest economy in the world with the highest standard of living, surpassing the British Empire by the s. Hamilton rooted this economic system, in part, in the successive regimes of Colbert 's France and Elizabeth I 's Englandwhile rejecting the harsher aspects Economjc mercantilismsuch as seeking colonies for markets.

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As later defined by Senator Henry Clay who became known as the Father of the American System because of his impassioned support thereof, the American System was to unify the nation north to south, east to west, and city to farmer. Frank Bourgin's study of the Constitutional Convention shows that direct government involvement in the economy was intended by the Founders. The creation of Economic System And Economic Systems strong central government able to promote science, invention, industry and commerce, was seen as an essential means of promoting the general welfare and making the economy of the United States strong enough for them to determine their own destiny. Jefferson and Madison strongly opposed Hamilton's program, but were forced to implement it by the exigencies of the embargo, begun in December under the Non-Intercourse Act, and the War of against Britain.

A number of programs by the federal government undertaken in the period prior to the Civil War gave shape and substance to the American School. These programs included the establishment of the Patent Office inthe creation of the Coast and Geodetic Survey https://amazonia.fiocruz.br/scdp/blog/purpose-of-case-study-in-psychology/analysis-of-shakespeare-s-macbeth-the-tale.php and other measures to improve river and harbor navigation created by the Rivers and Harbors Act.

Economic System And Economic Systems Other developments included the various Army expeditions to the west, beginning with Lewis and Clark's Corps of Discovery in and continuing into the s see for example, the careers of Major Stephen Harriman Long and Major General John C. Marcythe assignment of Army Engineer officers to assist or direct the surveying and construction of the early source and canals, and the establishment of the First Bank of the United States and Second Bank of the United States as well as various protectionist measures such as the Tariff of Leading proponents were economists Friedrich List — and Henry Carey — Carey called this a Harmony of Interests in his book by the same name, a harmony between labor and management, and as well a harmony between agriculturemanufacturingand merchants.

The name "American System" was coined by Clay to distinguish it, as a school of thought, from the competing theory of economics at the time, the "British System" represented by Adam Smith in his work Wealth of Nations. Henry C.]