c) Hamiltonian Economics

Hamiltonian Economics, named after Alexander Hamilton, the first U.S. Secretary of the Treasury, favored a national banking system and protective tariffs. Hamilton’s economic plan aimed to establish a strong central government, improve national credit, and encourage industrial development. The creation of the Bank of the United States and the implementation of tariffs to protect budding U.S. industries were key components of his plan. Hamilton’s policies laid the foundation for the modern American financial system and were instrumental in transitioning the U.S. from an agrarian economy to an industrial power.