The American Political Economy Tradition

Summary:
If Cohen and De Long (2016) are to be believed, there is an American Political Economy tradition, that harks back to Alexander Hamilton, that goes against the free market canon of the profession. In their view, the American Political Economy tradition consist of an interventionist approach to economic policy, that arguably should be seen as neomercantilist [1]. Classical political economy, as represented by their main figures in the United Kingdom, Adam Smith and David Ricardo, upheld the laissez-faire and free market tradition, and in this view the same would be true for the marginalist or neoclassical tradition. In that respect, some might see a continuity between both schools of thought and the American Political Economy tradition would be a somewhat heterodox tradition from its

Topics:
Matias Vernengo considers the following as important: Brad DeLong, hamilton, History of Economics, Political Economy

This could be interesting, too:

tom writes Keynes’ denial of conflict: a reply to Professor Heise’s critique

tom writes Rethinking conflict inflation: the hybrid Keynesian – NAIRU character of the conflict Phillips curve

tom writes Europe’s foreign policy has been hacked and the consequences are dire

tom writes Israel’s genocide, US assistance, and consequences thereof