Note 5.docx

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Public Affairs and Policy Management
Course Code
PAPM 1000

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Note 5CRITIQUES AGAINST CLASSICAL POLITICAL ECONOMYIInternationalist CritiqueFriedrich ListGerman philosopherLeft Germany for the US due to political strugglesexiledAlexander Hamilton was asked in 1791 to write a report on manufacturers The US economy was built around serving UKafter independence the US went into free trade with UK The US only produced agricultural goodsUK produced manufacturing goods Hamilton recommended that they produce both goods for the benefit of their economy instead of being a simple producing colony to Britain rather be a competitor He brings for the American Economic SystemIndustry is made with the aid of the stateactively involved in the state for the long term development The state must intervene in order to develop infrastructure Nationalism of companies promotes growth within the economy ex Hydro Quebec Others creation of a national bank regulation of industries and money productionBack to Friedrich ListNatural System of Political Economy National political economy focuses on peoplehumanityINDIVIDUALSwhich makes the nation Nations are never part of the theoretical framework only individualsExiled to USjailed and exiled Becomes famous after discovering a coalmine and becomes interested in railroads Railroads allow transportation of goods creating of markets and developing of out of state businesses1848Revolution across EuropeYou need to implement social programs for workers to prevent social revolutionINTERNATIONAL SYSTEM OF POLITICAL SYSTEMHomeland and humanityo Liste opposes private economycosmopolitan economy people who dont care about the state as itself He promotes national economythe nation state is an organism that must develop It starts off fragile and you need to help it to mature oIndividuals are part of the nationtherefore looking out for their own interest private economy is not sensibleyou have to work for the amelioration of the nation
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