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February 01, 2005

20050201 Econ 113 Class Opening Question

Alexander Hamilton believed that an America which owed lots of rich merchants lots of money--an America that "assumed" the debts the states had run up during the Revolutionary War and were not likely to pay--would be a stronger and better America. Why did he believe this?

Posted by DeLong at February 1, 2005 06:11 AM