Henry Charles Carey

Date of Birth: December 15, 1793

Zodiac Sign: Sagittarius

Date of Death: October 13, 1879

Biography

Henry Charles Carey was an influential American economist born in Philadelphia, Pennsylvania, who played a significant role in shaping economic thought in the 19th century. As the son of Mathew Carey, a prominent economist and publisher, Henry was exposed to economic and political ideas from a young age. He followed in his father’s footsteps, not only in the publishing business but also in the realm of economic theory. Carey’s work primarily focused on the principles of protectionism and the advocacy of tariffs to protect American industry. His economic theories were often contrasted with the free-trade views of classical economists like Adam Smith and David Ricardo. Carey argued that protective tariffs would help nurture infant industries in the United States, allowing them to grow strong enough to compete on the global stage. One of his most famous works, “The Principles of Social Science” (1858-1859), delves deeply into his views on economics, population dynamics, and social organization. Throughout his career, Carey wrote extensively, producing numerous books and articles that influenced both American economic policy and global economic thought. Carey was also an advisor to President Abraham Lincoln and influenced several policies during Lincoln’s administration. He remained active in economic debates until his death in 1879.

5 Interesting Facts about Henry Charles Carey

1. Henry Charles Carey was a staunch advocate of protectionist economic policies and believed that tariffs were essential for the development of American industry.

2. He was one of the first American economists to gain international recognition, with his works being translated into multiple languages.

3. Carey served as an economic advisor to President Abraham Lincoln, influencing many policies during Lincoln’s administration.

4. His book “The Principles of Social Science” is considered one of the most comprehensive economic treatises of the 19th century.

5. Despite being an economist, Carey was also heavily involved in the publishing business, taking over his father’s publishing firm after his death.

5 Most Interesting Quotes from Henry Charles Carey

1. “To enable the producer to dispose of his products directly to the consumer, without the intervention of the trader, is the great end to be sought.”

2. “The natural price of labor is its necessary price; that is, the price which is necessary to enable the laborers, one with another, to subsist and to perpetuate their race, without either increase or diminution.”

3. “Commerce is a system of exchanges, in which the producer and consumer meet, and in which the middleman, or trader, is a mere agent.”

4. “Protection has been the great instrument for producing the harmony of interests.”

5. “The more perfect the equality between the consumer and the producer, the more perfect will be the economy of society.”

Highest Net Worth Achieved

While exact figures from the 19th century are hard to determine, Henry Charles Carey was considered to be quite wealthy due to his successful publishing business and his extensive writings on economics.