4 ms·
Agree. And this is similar to policy US itself took (and many other rising economic powers) in the early 1800's [0] "The American System was an economic plan t
by PKop 4y ago
Agree. And this is similar to policy US itself took (and many other rising economic powers) in the early 1800's [0]
"The American System was an economic plan that played an important role in American policy during the first half of the 19th century. Rooted in the "American School" ideas of Alexander Hamilton, the plan "consisted of three mutually reinforcing parts: a tariff to protect and promote American industry; a national bank to foster commerce; and federal subsidies for roads, canals, and other 'internal improvements' to develop profitable markets for agriculture".
The establishment of a protective tariff, a 20%–25% tax on imported goods, would protect a nation's business from foreign competition. Congress passed a tariff in 1816 which made European goods more expensive and encouraged consumers to buy relatively cheap American-made goods."
[0] https://en.wikipedia.org/wiki/American_System_(economic_plan) https://en.wikipedia.org/wiki/American_System_(economic_plan...