Influences
Though List's practical conclusions were different from those of Adam Müller (1779–1829), he was largely influenced by Alexander Hamilton and the American School rooted in Hamilton's economic principles, including Daniel Raymond, but also by the general mode of thinking of America's first Treasury Secretary, and by his strictures on the doctrine of Adam Smith. He opposed the cosmopolitan principle in the contemporary economical system and the absolute doctrine of free trade which was in harmony with that principle, and instead developed the infant industry argument, to which he had been exposed by Hamilton and Raymond. He gave prominence to the national idea and insisted on the special requirements of each nation according to its circumstances and especially to the degree of its development. He famously doubted the sincerity of calls to free trade from developed nations, in particular Britain:
Any nation which by means of protective duties and restrictions on navigation has raised her manufacturing power and her navigation to such a degree of development that no other nation can sustain free competition with her, can do nothing wiser than to throw away these ladders of her greatness, to preach to other nations the benefits of free trade, and to declare in penitent tones that she has hitherto wandered in the paths of error, and has now for the first time succeeded in discovering the truth.
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Famous quotes containing the word influences:
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