Christian Parenti in Jacobin:
In the American political imagination, Jefferson is rural, idealistic, and democratic, while Hamilton is urban, pessimistic, and authoritarian. So, too, on the US left, where Jefferson gets the better billing. Michael Hardt recently edited a sheaf of Jefferson’s writings for the left publisher Verso.
Reading “Jefferson beyond Jefferson,” Hardt casts him as a theorist of “revolutionary transition.” We like Jefferson’s stirring words about “the tree of liberty” occasionally needing “the blood of patriots and tyrants,” and his worldview fits comfortably with a “small is beautiful” style localism. We recall Jefferson as a great democrat. When Tea Partiers echo his rhetoric, we dismiss it as a lamentable misunderstanding.
But in reality, Jefferson represented the most backward and fundamentally reactionary sector of the economy: large, patrimonial, slave-owning, agrarian elites who exported primary commodities and imported finished manufactured goods from Europe. He was a fabulously wealthy planter who lived in luxury paid for by slave labor. Worse yet, he raised slaves specifically for sale.
“I consider the labor of a breeding woman,” Jefferson wrote, “as no object, and that a child raised every 2 years is of more profit than the crop of the best laboring man.”
Even if it could somehow be dislodged from the institution of slavery, Jefferson’s vision of a weak government and an export-based agrarian economy would have been the path of political fragmentation and economic underdevelopment. His romantic notions were a veil behind which lay ossified privilege.
Hamilton was alone among the “founding fathers” in understanding that the world was witnessing two revolutions simultaneously. One was the political transformation, embodied in the rise of republican government. The other was the economic rise of modern capitalism, with its globalizing networks of production, trade, and finance. Hamilton grasped the epochal importance of applied science and machinery as forces of production.