Henry Charles Carey

Date of Birth: December 15, 1793

Zodiac Sign: Sagittarius

Date of Death: October 13, 1879

Biography

Henry Charles Carey was a prominent American economist born in the early 19th century, known for his contributions to the development of economic thought in the United States. Carey was born into a family already influential in publishing, and he took over his father’s business after his passing. Carey later shifted his focus to economics, where he established himself as a leading figure. He is best known for his advocacy of protectionism and his opposition to the classical economics of David Ricardo and Thomas Malthus. Instead of pessimistic views on economic growth, Carey believed in the positive effects of social harmony and the benefits of free markets regulated by a degree of protectionism. Carey’s seminal works include “The Harmony of Interests: Agricultural, Manufacturing, and Commercial” and “Principles of Social Science,” where he laid out his economic theories. His ideas influenced the economic policies of the American Whig and early Republican parties and had a lasting impact on American economic policy. Carey was also an early advocate of the “American System,” which emphasized the role of government in protecting and nurturing the domestic economy.

5 Interesting Facts about Henry Charles Carey

1. Henry Charles Carey was the son of Mathew Carey, a notable publisher and economist who emigrated from Ireland.

2. Carey was a staunch advocate of protectionist policies, which he believed would help American industries grow and compete with foreign markets.

3. He published his first economic work, “Essay on the Rate of Wages,” in 1835, marking his entry into economic thought.

4. Carey’s theories were influential in the development of the American School of economics, which guided U.S. economic policy during the 19th century.

5. He was a critic of British classical economics, particularly the theories of David Ricardo and Thomas Malthus, favoring more optimistic views on the potential for economic growth and social harmony.

5 Most Interesting Quotes from Henry Charles Carey

1. “In all moral and physical changes there is an action and reaction, which makes the movement perpetual and progressive.”

2. “The less government interferes with private pursuits, the better for general prosperity.”

3. “Protectionism is the law of nature, the law of self-preservation, of self-development, of securing the highest and best destiny of the race of man.”

4. “The harmony of interests, agricultural, manufacturing, and commercial, is the only sure and stable foundation of national prosperity.”

5. “The value of a nation is the sum of its people.”

Highest Net Worth Achieved

Henry Charles Carey did not achieve significant personal wealth compared to modern standards of economists or industrialists. His influence was more intellectual and political rather than financial.