05 American Capitalism Hamilton and Jefferson

Lecture 5 American Capitalism: Hamilton and Jefferson A lthough the spanish were the first europeans to settle and explore the Americas, the Dutch and the British gave the future United States of America the institutional structures that were so beneficial for its own brand of capitalism. The early Dutch brought with them the key institutions of banking, stock markets, and insurance. While the Dutch created modern finance, the British established privateproperty rightson which modern capitalism is based and the common law legal system of contracts, which is also necessary in a capitalist society.