https://americansystemnow.com/what-is-the-american-system/
March 13, 2018—When I began this blog nine months ago, I set out to provide an overview of the American System of Economics through introducing readers to the leading practitioners of that system, with a special focus on Alexander Hamilton’s ideas and achievements. I am now convinced that a broad conceptual presentation of the principles of that system is required, in order to fulfill my purpose of in-depth education on this subject.
The core principle of the American system is correctly summarized in the blog’s statement of purpose: “the use of government-regulated credit to promote continuous scientific and technological progress through the constant upgrading of the productive powers (mental as well as physical) of the labor force.” But even this statement basically serves as a kind of shorthand for the conceptual basis for the American System overall. One can also, of course, point to the concepts elaborated in the Declaration of Independence and U.S. Constitution as forming the bedrock of the unique System, as its leading representatives, such as John Quincy Adams, Abraham Lincoln, and Franklin Delano Roosevelt, did: “life, liberty and the pursuit of happiness,” and the “general welfare” and concern for “posterity” being most notable. But there are many conflicting interpretations today of what those documents stand for, and more clarity is needed.
Mathew Carey, Friedrich List, and Henry Carey
