Alexander Hamilton (1757–1804): Disciple of John Law and Founder of Wall Street

Jan Greitens ()
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Jan Greitens: Johann Wolfgang Goethe-Universität

Chapter Chapter 12 in Currency and Credit Money, 2026, pp 125-129 from Springer

Abstract: Abstract This chapter analyzes Hamilton’s theory of credit and banking as tools for nation-building and economic development. Influenced by John Law, Hamilton emphasizes the role of banks in expanding credit and increasing economic activity. He develops a theory of credit money creation, highlighting the multiplier effect of banking and the importance of public credit for state power. This chapter shows how Hamilton’s proposals for a national bank aimed to stabilize finances, support industry, and strengthen federal authority. His approach prioritizes credit over currency and views financial institutions as engines of growth, shaping the foundations of the modern U.S. financial system.

Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spshcp:978-3-032-24113-9_12

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DOI: 10.1007/978-3-032-24113-9_12

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