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Hamilton's Blessing: The Extraordinary Life and Times of Our National Debt Posters
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List Price: $21.00Price: $15.40 You Save: $5.60 (27%)Prices subject to change.
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Binding: Hardcover
Format: Bargain Price
Label: Walker & Co.
Manufacturer: Walker & Co.
Number Of Items: 1
Publication Date: 1997-01
Publisher: Walker & Co.
Sales Rank: 1012509
Studio: Walker & Co.
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Editorial Review:
Product Description:
Measured at the staggering amount of $5.1 trillion (and growing every day) the national debt is unfathomable to most Americans. What we may not realize is that the United States was born out of debt. After the Revolution, the brilliant Alexander Hamilton was less interested in paying down the Revolutionary war debt than in using it to create a vibrant national economy. "If it is not excessive," he declared, "a national debt will be to us a national blessing." In a fascinating narrative brimming with colorful characters, historical accidents, and American ingenuity, business historian John Steele Gordon leads us on a tour of an American institution whose largely unknown story has been integrally entwined with our country's destiny. At key points in U.S. history, Gordon shows how the national debt has been a potent instrument of fiscal policy in keeping the world safe for democracy. But how much debt is too much? At a time when we despair of balancing even a single year's budget, Hamilton's Blessing provides much needed perspective - and hope. * Author writes the "Business of America" column in American Heritage magazine and is heard often on public radio's "Marketplace."
Amazon.com Review:
Over the past couple of decades, our national debt has become a favorite political football for Democrats and Republicans alike. Yet few Americans seem aware that the debt has a long and (mostly) honorable history. Alexander Hamilton considered it a kind of political Krazy Glue, which would also spur American industry by keeping taxes high. This borrowing power enabled the North to win the Civil War without wrecking its economy and rescued us from the Great Depression. John Steele Gordon doesn't deny the dangers of an entire nation living on credit; indeed, he believes that our fiscal affairs are a mess. But he puts this mess in fascinating perspective. And he's quick to see the human side of economic behavior: "One problem," he writes, "is that human nature predisposes us to recognize depression easily and quickly, but prosperity, like happiness, is most easily seen in retrospect." Bull's-eye!
Average Rating: 
Rating:  -
John Steele Gordon has taken what could be an amazingly dull topic, limited in appeal, and translated it into a spectacular read for anyone with at least a basic education. This great little book is a welcome addition for folks interested in finance, the U.S. economy, and the national deficit. Nonetheless, despite its breezy style and short length (traits typically necessary for widespread appeal), I don't expect it will reach a wide audience. Consider yourself lucky that you've discovered this plain ... Read More
Rating:  -
The book is okay ... but in general the book attempts to have the reader buy into Hamilton and his develpment of the National Debt as a good thing in todays economic system.
It was set up originally to help our economy expand and to be used in a way such that in difficult times money would be borrowed so that in prosperous times it could be paid back. Although it is a factual account of a major portion of our Nations'Economic history it fails to take into account one thing in its summary, ... Read More
Rating: -
I tip my hat to Mr. Gordon for providing a compelling short history of national debt, and how it has been shaped by tariffs, taxation and ever-increasing spending that has run amok in recent decades. It is a fascinating study into the competing visions of fiscal responsibility, notably the balanced budget extolled by Jeffersonians, which has actually been achieved on numerous occasions, versus deficit spending espoused by Hamiltonians, and of which John Maynard Keynes became the leading exponent in the inter ... Read More
Rating: -
John Steele Gordon is an excellent writer, one whom I have enjoyed very much in the pages of American Heritage and who wrote a nifty history of Wall Street called "The Great Game."
This book, "Hamilton's Blessing: The Extraordinary Life and Times of Our National Debt" is a good, if brief, overview of the fiscal history of the American government. It is somewhat misnamed, since the National Debt serves as a background and tie in to each period of fiscal history studied.
The author does ... Read More
Rating: -
Just two years ago, John Steele Gordon's book on the history of the U.S. federal debt would have seemed dated, even though it was published in 1997. After more than twenty consecutive years of operating in the red, the U.S. federal government had not only erased its annual deficits and began paying down the debt, but surpluses were projected over the next ten years.
This is no longer the case. A tax cut, the war on terrorism, and a slowdown in the economy have combined to push the U.S. government's ... Read More
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