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Nancy Bradeen Spannaus Challenges Myths in Hamilton Versus Wall Street


Thanks to the acclaimed play by Lin Manuel Miranda, “Hamilton: An American Musical,” Alexander Hamilton’s prominent role in shaping the United States has been recognized once again. But his crucial concepts in the political economy continue to be overlooked, misrepresented, or even attacked. Nancy Bradeen Spannaus’ book, entitled “Hamilton Versus Wall Street: The Core Principles of the American System of Economics,” seeks to revive Hamilton’s ideas that propelled the growth of America.

The Revolution brought about a massive amount of debt to America. To deal with such amassed debt, Treasury Secretary Hamilton devised a financial system that eventually led to the United States’ economic rise. The ten-dollar Founding Father’s concept of public credit – which was devoted to building the productive powers of labor and was used by the Washington, Lincoln, and Franklin Roosevelt administrations to bring prosperity to the United States – continues to be the chief challenge to the Wall Street or City of London methods that dominate the economic thinking today.

Nancy has organized her argument about Hamilton’s economic principles and its subsequent history in a series of concise and clear chapters accessible to the general public. Kirkus Reviews has described the book as “a thoughtful, well-written argument for Alexander Hamilton’s financial system as a guard against tyranny.” Economist Richard Sylla, author of Alexander Hamilton: An Illustrated Biography, noted that “In our time of crumbling infrastructure, anemic economic growth, and dysfunctional government, Spannaus points to a better path, the American System of an economic policy initiated by Alexander Hamilton more than two centuries ago.”

This book uncovers of the buried history of U.S. economic development, and some of its global ramifications as well, making it enlightening for all readers interested in history, politics, and economics. It’s time to think about how lessons learned from the past could provide answers to present-day dilemmas facing our nation.

“Hamilton Versus Wall Street: The Core Principles of the American System of Economics” book copies are available at, and will soon be available at Book Culture bookstore on W. 112th St., Manhattan, NY
Writer: Nancy Bradeen Spannaus
Publisher: iUniverse
Publication Date: February 16, 2019
ISBN-10: 1532067542
ISBN-13: 978-1532067549
Paperback: $13.99
Kindle: $5.39
About the Author
Nancy Bradeen Spannaus was born in Portland, Maine, in 1943. She became interested in studying Alexander Hamilton’s history and thought in the mid-1970s. His in-depth ideas, which contrasted with the usual superficial “tax revolt” idea of the American Revolution, impressed her. In 1977 she co-edited a book of writings on the Political Economy of the American Revolution, which featured major excerpts from Hamilton’s major financial papers. After 40 years in a political journalism career, she returned to studying Hamilton’s American System and founded the blog which presents the history of that system and current events in that light. The success of Hamilton’s musical, in addition to the current economic condition of the United States, drove her to write her book, “Hamilton Versus Wall Street: The Core Principles of the American System of Economics.”

She lives with her loving husband, Ed, and two amusing cats in Northern Virginia.

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