Amit's Blog

  Preamble In the aftermath of the American Revolution, the United States faced the daunting task of establishing itself as a sovereign nation, not only politically but also economically. The young republic was heavily dependent on British manufactured goods and financial systems, a legacy of its colonial past that threatened its autonomy. Against this backdrop, a distinct economic philosophy emerged in the 19th century, known as the American School of Political Economy. Championed by figures like Alexander Hamilton, Henry Clay, and Friedrich List, this school advocated for economic nationalism, emphasizing industrialization, protective tariffs, and public investment to achieve self-sufficiency. Rejecting the British doctrine of free trade, which was seen as a tool of economic imperialism, the American School sought to build a balanced economy capable of supporting a strong, independent nation. This write-up explores the principles, key thinkers, opposition, quantifiable achievemen...

  Preamble This essay delves into the financial revolution of the colonial era (1475–1800 CE), a pivotal period that transformed Europe into a global economic and political powerhouse. It traces the evolution of banking, bond markets, stock markets, and derivative instruments, exploring their synergy with maritime trade and their role in scaling critical industries such as shipbuilding, weaponry, textiles, colonial trade, and mining. The analysis examines why northern Europe—Britain, France, and the Netherlands—surpassed early leaders like Italy, Spain, and Portugal, and why comparable financial systems did not emerge in advanced civilizations like India, China, and the Middle East. Through detailed case studies of joint-stock companies, including lesser-known ventures beyond the Dutch East India Company (VOC) and English East India Company (EIC), it assesses the balance of strategy and serendipity in their outcomes. The purpose is to illuminate how finance, trade, and innovation ...