2006-10-12 16:56:11 · 6 answers · asked by Hammy 2 in Politics & Government ➔ Politics
Alexander Hamilton was the sole founder.
Adam Smith’s “Wealth of Nations” was entirely based upon history which ascribed an exaggerated role to commerce. This was not the founding of American Capitalism. It was Alexander Hamilton and his keen awareness to the complexities of political life and his ability to solve abstract problems that created our system. Hamilton presented a powerful and enduring case for state intervention in the economy “the assumption bill”. It was opposed by Jefferson and Madison, but supported by Washington.
Hamilton’s moderation in theory and practice provided a superior model to Smith’s deductive system.
2006-10-15 13:23:34 · update #1
Alexander Hamilton was the first treasury secretary, he definitely had Capitalist tendencies but the theory was first written up by Adam Smith--the "invisible hand" of the market place guaranteed the best product at the best price. However capitalism required competition and competition does not exist any more, so capitalism has not existed in the US for several years. It is now Corporatism, or an Oligarchic economy now, but it is no longer capitalism.
2006-10-12 16:59:50 · answer #1 · answered by jxt299 7 · 0⤊ 2⤋
Adam smith wrote a book called "the wealth of nations." The first pilgrims tried communism by a "share and share alike" method on o common plot of ground. But since no one person got ANY reward from working that shared ground, no one did anything, they did not have enough food for the next winter and nearly starved to death. Then one of the pilgrims changed the rules. Everybody plowed their own ground the next season and sold the excess for profit. The next season they had more than enough.
No single founding father invented capitalism, it is just what worked best. They all believed in free enterprise.
2006-10-13 00:02:55 · answer #2 · answered by stick man 6 · 3⤊ 0⤋
Well all most all of them were very wealthy, so I guess they all did. Even George Washington, who had money received a salary of $25,000 a year. The largest salary known - Congress made $6 a day or $2,190 a year the same year. Capitalism at it's best. It works, go see Washington's beautiful home. I loved it.
2006-10-13 00:10:26 · answer #3 · answered by Wolfpacker 6 · 0⤊ 0⤋
It's not thinkers who create capitalism. It's the people in general.
2006-10-13 00:03:08 · answer #4 · answered by me 5 · 0⤊ 0⤋
none...credit Adam Smith, I think
2006-10-12 23:58:27 · answer #5 · answered by jumbyhead 2 · 0⤊ 1⤋
thomas jefferson and i think washington
2006-10-12 23:57:48 · answer #6 · answered by Anonymous · 0⤊ 1⤋