Brief Quotations from the Writings of Alexander Hamilton and Friedrich

question 21

Essay

Brief quotations from the writings of Alexander Hamilton and Friedrich List are given in this chapter. Based on these short bits of writing, compare the ideas of these two political economists with those of two contemporary political economists. What do they have in common that makes them all mercantilists or neomercantilists? How do they differ in the policies that they suggest nations take?

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Definitions:

Taylorism

A management theory emphasizing efficiency, by systematically organizing tasks and breaking them down into small, simple steps.

Primary Labour Market

Involves employment sectors characterized by stable employment, higher wages, and access to benefits and career progression.

Secondary Labour Market

A segment of the job market characterized by low-paying, insecure, non-unionized, and often part-time or temporary work, frequently contrasted with more stable and better-compensated primary employment.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, often leading to the interconnectedness of world economies and cultures.