How did Hamilton's economic plan help or hurt the early US?

Answer 1

Hamilton's economic plan helped the early US by establishing a strong federal government with the authority to assume state debts, which promoted national unity and financial stability. It created a national bank to manage debts and issue currency, fostering economic growth and facilitating trade. However, the plan also heightened regional tensions, particularly between the North and South, as it favored industrial interests and led to political divisions that contributed to the emergence of the first political parties. Overall, while it laid the groundwork for a robust economy, it also sparked significant political conflict.