NEW YORK TIMES Book Review: …. [Michael] Lind, a founder of the New America Foundation in Washington and the author of several political histories, acknowledges from the beginning that his thesis will make some readers uncomfortable. “In the spirit of philosophical bipartisanship, it would be pleasant to conclude that each of these traditions of political economy has made its own valuable contribution to the success of the American economy and that the vector created by these opposing forces has been more beneficial than the complete victory of either would have been,” he writes.
“But that would not be true,” he continues. “What is good about the American economy is largely the result of the Hamiltonian developmental tradition, and what is bad about it is largely the result of the Jeffersonian producerist school.”
Hamiltonian development built the Erie Canal, the transcontinental railroad, the land-grant universities and the Interstate highway system. In the process, the United States became a giant, interconnected market, a place where companies like Standard Oil, General Motors, John Deere and Sears Roebuck could thrive. The government — and the American military in particular — also played the most important role in financing innovation at its early stages. The industries that produced the jet engine, the radio (and, by extension, the television), radar, penicillin, synthetic rubber and semiconductors all stemmed from government-financed research or procurement. The Defense Department literally built the Internet… (more)
EDITOR: The reviewer poses the following nieve issue: “For all its logical rigor, however, the book’s thesis does suffer from one basic flaw. Lind never quite explains how the United States has ended up as the richest large country in the world, with per capita income about 20 percent higher than Sweden’s or Canada’s, almost 30 percent higher than Germany’s and almost 500 percent higher than China’s. ” Let’s start with centuries of African-American slavery and exploitation, vast national resources (which have been largely consumed), protection from foreign wars by two vast oceans, and what once was an excellent education system (for whites.)
