What was Thomas Jefferson's view on the economy?

Thomas Jefferson had several views regarding the economy. He believed the federal government should play a very limited role in the lives of the American people. This included having a limited government role in the economy. Thomas Jefferson got rid of unpopular taxes, such as the tax on whiskey. He reduced the size of the army and prevented the navy from expanding while he was president. He was opposed to Alexander Hamilton’s financial plan creating a national banking system, because he believed it was against the Constitution and because it increased the role of the federal government in the lives of the American people.
Thomas Jefferson was willing to take actions to protect Americans even if those actions hurt the American economy. The passage of the Embargo Act in 1807 was designed to protect American merchants whose ships were being attacked by France and by Great Britain when these countries were at war with each other. This law prevented Americans from trading with other countries. However, it eventually had to be replaced because the economic effects adversely impacted the American economy and the American people.
Thomas Jefferson favored policies that helped American farmers. He saw the United States primarily as an agricultural country and wanted farmers to be successful. He generally opposed protective tariffs, as he believed they negatively impacted farmers.