The American School, also known as the "National System", represents three different yet related constructs in politics, policy and philosophy.
Closely related to mercantilism, it can be seen as contrary to classical economics. It consisted of these three core policies:
protecting industry through selective high tariffs (especially 1861–1932) and through subsidies (especially 1932–70)
government investments in infrastructure creating targeted internal improvements (especially in transportation)
a national bank with policies that promote the growth of productive enterprises rather than speculation.
It is a capitalist economic school based on the Hamiltonian economic program. The American School of capitalism was intended to allow the United States to become economically independent and nationally self-sufficient.