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Henry Charles Carey

From Wikipedia, the free encyclopedia
American economist and publisher (1793–1879)

Henry Charles Carey
Born(1793-12-15)15 December 1793
Died13 October 1879(1879-10-13) (aged 85)
Philadelphia, Pennsylvania
Political partyRepublican
SpouseMartha "Patty" Leslie
FatherMathew Carey
Relatives
Academic background
Influences
Academic work
DisciplinePolitical economy
School or traditionAmerican School
Signature

Henry Charles Carey (December 15, 1793 – October 13, 1879) was an American publisher, political economist, and politician fromPennsylvania. He was the leading 19th-centuryeconomist of theAmerican School and a chief economic adviser to U.S. PresidentAbraham Lincoln and Secretary of the TreasurySalmon P. Chase during theAmerican Civil War.

Carey's central work isThe Harmony of Interests: Agricultural, Manufacturing, and Commercial (1851), which criticizes the system oflaissez fairecapitalism andfree trade expounded byThomas Malthus andDavid Ricardo in favor of theAmerican System ofdevelopmentalism through the use oftariff protection and state intervention to encourage national self-sufficiency and unity. Carey was also a critic of the practice of slavery from an economic perspective. His work on protective tariffs was largely influential on the early Republican Party andUnited States trade policy through the start of the 20th century, and his views on banking and monetary policy were adopted by the Lincoln administration in its issuance ofpaper fiat currency aslegal tender.

Biography

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Early life

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Carey was born inPhiladelphia, Pennsylvania on December 15, 1793.[1]

Carey's father,Mathew, was a leading economist in Philadelphia.

His father,Mathew Carey (1760–1839), was a native of Ireland and an influential economist, political reformer, editor, and publisher whose patrons includedBenjamin Franklin and theMarquis de Lafayette. He founded a publishing firm, which soon became among the leading firms in Philadelphia and the young United States. Among his many writings wasEssays on Political Economy (1822), one of the earliest American treatises favoringAlexander Hamilton's idea ofprotection and its use in the promotion of American industry.[2]

Carey began working at his father's firm at only twelve years old.[a][1] At the firm, Carey read most of the books selected for publication, substituting for a formal college education.[1] In 1812, he traveled toRaleigh, North Carolina as part of his business for the firm.[1] He was elevated to partner alongside his father in 1814.[1]

In 1819, he married Martha "Patty" Leslie, the sister ofCharles Robert Leslie andEliza Leslie. They adopted one daughter.[1]

Publisher

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In 1821, Carey became the leading partner at Carey & Lea, at the time the largest publishing house in the United States.[4] He took little formal interest in economics, tacitly accepting the market doctrines ofJean-Baptiste Say and of his Philadelphia associates,Condy Raguet,Nicholas Biddle, andCharles Pettit McIlvaine who were active believers infree trade doctrine.[5]

In 1824, Carey established the common method of trade sales, a medium of exchange between booksellers, which lasted through his life.[1][6]

Economist

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In 1835, Carey read the published 1829–30 lectures ofNassau William Senior titledThe Rate of Wages andThe Cost of Obtaining Money and published his refutationEssay on the Rate of Wages, with an Examination of the Differences in the Condition of the Laboring Population throughout the World.[5][6] Carey agreed with Senior's principles and main propositions but criticized the Senior's failure to adjust for real wage rates.[7] He remained an advocate of free trade in the essay, writing that "Laissez nous faire is the true doctrine. . . it is now so fully understood that the true policy of the United States is freedom of trade and action, that there will be every day less disposition to interfere with it." Nevertheless, his intensely nationalist tone conflicted with economic orthodoxy; Carey identified the purpose of political economy as the promotion of the happiness of nations and the application of national labor for the comfort of workers.[7]

The same year thatEssay on the Rate of Wages was published, Carey retired from active business with a fortune and devoted his time to economics and related work.[7] He began work on a text,The Harmony of Nature, which he did not feel adequate for wider publication but which became central to his later thinking.[5] Setting this work aside, he beganPrinciples of Political Economy in 1837, an expansion of his refutation of Senior.[8] He completed the three-volume work in 1840. This work was largely adapted by the French economistFrédéric Bastiat in his ownHarmonie Economiques in 1849, with some later accusing Bastiat of plagiarism.[9][6][5] The first volume explained Carey's labor theory of value. Its second volume, a comparative study of credit systems in France, Great Britain, and the United States, reads as a defense of the Americanfree banking system, particularly as practiced in New England, in the wake of thePanic of 1837.[10] It was cited favorably byJohn Stuart Mill in defense of his own arguments for a similar system in Britain.[10] Carey continued to ground his thinking in standardlaissez faire doctrine, writing that "Governments have arrogated to themselves the task of regulating the currency, and the natural effect is that nothing is less regular." He would soon thereafter abandon the doctrine.[11]

Rejection of free trade

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Following thePanic of 1837 and the success of the protectionistTariff of 1842, Carey became an open critic of free trade.

Carey's newfound skepticism was based on his empirical observation of tariff history and his belief that some economic law must exist to explain prosperity under protection and bankruptcy under free trade. By Carey's own account, he initially expected the 1842 tariff would prolong the recession; when it did not, he sought an explanation and became convinced "as with a flash of lightning, that the whole Ricardo-Malthusian system is an error and that with it must fall the system of British free trade."[11] Subsequent scholars have challenged Carey's claim of a sudden change of heart by pointing to his earlier opposition to the English occupations of Ireland and India and his support forFriedrich List and the GermanZollverein.[11] He may have also been influenced by his own personal experience; between 1837 and 1840, he invested a portion of his publishing wealth in a paper mill that became completely bankrupt.[11] By the end of 1843, Carey was engaged in a public debate with former Vice PresidentJohn C. Calhoun, a leading advocate for tariff reduction.[11][12] In 1845, in a pamphlet entitledCommercial Associations in France and England, Carey began to reject wholesale the "British" economics ofThomas Malthus andDavid Ricardo altogether and sought to develop a critique of their underlying assumptions.[12] At the same time in England, theManchester school of liberal capitalism reached the apex of its influence with the repeal of theCorn Laws.

Over the course of ninety days in 1848, Carey expanded on this view by writingPast, Present, and Future,[12] which he said was "designed to demonstrate the existence of a simple and beautiful law of nature, governing man in all his efforts for the maintenance and improvement of his condition... which, nevertheless, has hitherto remained unnoticed." The work argued in favor of a marriage of industry with capital and the necessity of maintaining domestic markets to promote prosperity; it was met with derision fromManchester school economists.[11] The same year, while living inBurlington, New Jersey,[11] Carey foundedThe Plough, the Loom, and the Anvil, a periodical journal of economic development, with John Stuart Skinner serving as its publisher. Selections of Carey's writings in the journal were compiled into his next work,The Harmony of Interests.[13]

Critique of slavery

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Carey was a long-time opponent of American slavery, criticizing it as an economic albatross.

In 1853, prompted by the popularity ofUncle Tom's Cabin, Carey wrote and publishedThe Slave Trade, Domestic and Foreign: Why it Exists and How It May Be Extinguished.[14] The tract was partly written as an accusation of hypocrisy against the English.Uncle Tom's Cabin had been particularly popular among abolitionists in England, who cited it to contrast English liberty to American slavery; Carey sought to expose the English system of pauperism and colonialism as an equally severe or worse form of bondage, introducing famine, exile, and pestilence to its subjects in addition to its restraint on liberty.[14] Nevertheless,The Slave Trade is primarily a criticism of the Southern system of chattel slavery on moral and economic grounds.[14]

Karl Marx referred to Carey as the "only American economist of importance" and his theories as the chief obstacle tocommunist revolution in the United States. He pledged to wage "hidden warfare" against Carey.

New York Tribune

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From 1849 to 1857, Carey was a leading editorialist on political economy atHorace Greeley'sNew York Daily Tribune.

Beginning in 1852,Karl Marx also served as European correspondent for theTribune. Marx privately referred to Carey as "the only American economist of importance,"[15] but was highly critical of Carey's views as obstructive of communist revolution. Marx believed himself to be engaged in a "hidden warfare" against Carey through his own work for theTribune.[16] Even after both had left theTribune, Marx remained a critic of Carey for the remainder of his life.[17] In a 1890 study of Carey's thought,Charles Herbert Levermore suggested that Carey's criticisms ofDavid Ricardo andThomas Malthus may have been a "prophetic vision of the use that Karl Marx and the socialists would make of [their work]."[18]

While at theTribune, Carey successfully pressed for an open editorial position in support of theRussian Empire in theCrimean War against Great Britain andFrance, despite the Russian institution ofserfdom. This stance was adopted by much of the Northern press and has been partially credited for influencing Russia's reciprocal support of the Union during theAmerican Civil War and the opposition of Great Britain and France.[19]

Carey left theTribune in 1857, around the same time Greeley came out in support ofa reduction in tariffs. Greeley would later run for president in 1872 on an anti-tariff platform.[19] After leaving theTribune, Carey took two tours of Europe, where he personally met withJohn Stuart Mill,Count Cavour,Alexander Humboldt,Justus von Liebig,Michel Chevalier, and other leading men. He maintained correspondence with many of his European acquaintances and hosted them as guests when they visited Philadelphia.[4]

Influence on Republican Party

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Carey was hugely influential in shaping the nationalist and protectionist economic policy of the earlyRepublican Party, through his roles as a public intellectual, party operative, and advisor to numerous figures. During theAmerican Civil War, Carey was a trusted adviser to both PresidentAbraham Lincoln and Treasury SecretarySalmon P. Chase.[20] He directly assisted in the drafting of Republican tariff legislation from 1857 through the Civil War, and his thought also influenced President Lincoln's banking and finance policy through the passage of theNational Bank Act of 1863 and subsequent Treasury policy.

Tariff of 1857

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Main article:Tariff of 1857

When the Republican Party was founded in popular reaction against theKansas-Nebraska Act and the extension of slavery, it had no broad economic platform. Attempts to formulate one were met with disapproval, given the possibility they would detract from its anti-slavery mission or divide its supporters.[21] Carey joined the new party in 1856, while still working at theTribune. He received three votes for vice president at the1856 Republican National Convention and served as a fundraiser, soliciting Philadelphia manufacturers for donations without assigning his beliefs to the party as a whole.[21] Immediately after the election, which ended in defeat,Charles A. Dana asked Carey for his support in broadening the party's base, "a principle alone not being sufficient."[21] Carey proposed centering the 1860 platform on his system of economic nationalism built around the protective tariff.[21] When Dana declined to "build up a new Protection party," Carey set out on a crusade for a coherent economic policy.[21]

Through personal friendship withLewis D. Campbell, chairman of theWays and Means Committee, andJames Hepburn Campbell, Carey heavily influenced the committee's report on tariffs, which was a vigorous defense of protection quoting directly fromHarmony of Interests.[22] The committee's bill was opposed by some Republicans, including future Treasury SecretaryJohn Sherman andBenjamin Stanton, who criticized it as "essentially a manufacturers' bill... [which] would not bear the test of scrutiny."[23] The ensuing House debate mostly dealt with slavery; one of the few Representatives to focus on protection wasJustin Smith Morrill ofVermont,[22] who would become the leading proponent of Carey's theories during theAmerican Civil War. The tariff rates were reduced in the Democratic Senate, andthe compromise bill passed with Republican support, over objections by Morrill and James Campbell.[22]

Panic of 1857 and 1860 election

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After the United States enteredanother economic recession, Republicans began to take a new interest in economic policy. Revived calls for protective tariffs enhanced Carey's standing.[24] SenatorSimon Cameron was elevated as Pennsylvania's candidate for president on a protectionist platform, andDavid Wilmot agreed to stand for Pennsylvania's other Senate seat on the same platform. Cameron's campaign was premised on a proposition that no candidate could win without Pennsylvania, and no candidate could win Pennsylvania without supporting protection.[24]

As Carey's influence in the party grew, he began to draw connections between slavery and international trade. In a public debate of letters withWilliam Cullen Bryant on the causes of the Panic, its relationship to slavery, and the Republican response, Carey argued that, "In [Pennsylvania and New] Jersey, the tariff is the one and almost the only question."[25][26] He positioned slavery as one phase of an international economic system. "Slavery," he argued, "must stand or fall with free trade."[26] Protection would bring about abolition through industrialization, an end to the plantation economy and cotton exports, and the establishment of a Southern middle class.[26]

By 1860, Republicans outside of Pennsylvania remained reluctant to embrace protection. In most Western states, the party was divided, and SenatorHenry Wilson, who previously pledged New England's support, urged Carey to be cautious.[27] Republicans in the United States House, led byJustin S. Morrill andJames H. Campbell, passeda protective tariff at Carey's urging, though it languished in the Senate into winter.[28]

The platform ultimately declared, "while providing revenue for the support of the general government by duties upon imports, sound policy requires such an adjustment as to encourage the development of the industrial interests of the whole country." Biographer George Winston Smith claimed Carey personally drafted the plank through Pennsylvania judgeWilliam Jessup, the platform chair,[29] whileGustave Koerner later claimed it was developed at the behest ofHorace Greeley to avoid alienating free trade proponents.[30] Regardless, Republicans in Pennsylvania, led by Carey, made protection the central issue of the campaign and carried the state in the fall elections.[31] Though Abraham Lincoln, the Republican President-elect and former Whig, publicly expressed ignorance on tariffs and pledged to "endeavor to comprehend it more fully,"[24] Lincoln historianReinhard H. Luthin claims that by the time of his election, Lincoln had almost certainly read Carey's work on the subject.[32]

Carey served as a trusted adviser to PresidentAbraham Lincoln, Secretary of the TreasurySalmon P. Chase, and RepresentativeJustin Smith Morrill, among others. His thinking was the basis for theMorrill Tariff and theNational Banking Act of 1863.

Advisor to Lincoln and Chase

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Further information:Economic history of the American Civil War andMorrill Tariff

After his election, Abraham Lincoln sought Carey's advice on whether he should nominateSimon Cameron forSecretary of the Treasury. Lincoln initially sought Carey out for his expertise on Pennsylvania politics and Cameron's reputation for corruption, which Carey confirmed despite their prior alliance. Lincoln soon began to consult with Carey on tariff policy.[33] At the same time, Carey backed Lincoln's alternative for Treasury,Salmon P. Chase. Though Chase did not respond to Carey's letters and had a background as a supporter of free trade, Carey preferred to persuade Chase than trust Cameron.[33] Via a sustained correspondence through the summer of 1861, Chase and Lincoln consulted Carey on the tariff, domestic taxation, and financial matters generally.[33] By July, Morrill reported to Carey that although "[Chase's] Philosophy is Free trade orad valorems," he was "willing to yield" on tariff policy amid the growing cost of theAmerican Civil War. "I think Chase, considering his antecedents, should receive generous treatment by all our friends," Morrill wrote. "He is doing the best he can practically."[34] Carey also used his influence to secure key appointments in the Treasury Department for protectionists, including his trusted adviser Dr. William Elder as the lead tariff architect in the administration.[33]

In the winter of 1860–61 amidSouthern secession, Morrill and Campbell pressed tariff protection in the lame duck Congress, and Carey personally went to Washington to direct lobbying efforts.[35]John Sherman, now serving as Chair ofWays and Means, was persuaded to the cause.[35] With most free trade advocates leaving Congress as the result of secession, the bill passed with some amendments in the session's final days.George W. Scranton of Pennsylvania also distributed Carey's writings to all members-elect in the incoming Congress; Carey continued to influence tariff policy in Congress throughout the war, and his views remained dominant in the party long after.[35]

National Banking Act and greenbacks

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See also:National Banking Act of 1863 andGreenback (1860s money)

Carey's theories also influenced theNational Banking Act of 1863 and the provision ofgreenbacks and secured bank notes.[20]

In March 1865, Carey published a series of letters written to the Speaker of the HouseSchuyler Colfax during the Civil War, entitled "The Way to Outdo England Without Fighting Her". In these letters, Carey advocated the continuance of thegreenback system to ensure economic sovereignty. Carey also suggested raising thereserve requirements on private banks up to 50%.[citation needed]

After the war, Carey publicly opposed SecretaryHugh McCulloch's proposal to contract the money supply. In a series of public letters, he accusedWall Street banks of artificially inflating thecost of capital and predicted that a swift contraction would lead to chaos, economic paralysis, and political rebellion, particularly among farmers in the West whose mortgage rates would increase.[36] He also opposed the sale of United States bonds overseas, arguing that specie payments could not be resumed until the national debt was held by America creditors, and that payment should be made in silver as well as gold.[36]

Later work and death

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In autumn 1872, Carey was a delegate to the convention organized to write a newPennsylvania Constitution. His commentary during the convention on banking, usury, corporations, and railroads were later published in pamphlet form.[19]

He died at his home in Philadelphia on October 13, 1879.[6]

Views

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Carey's views are generally described as nationalist[37][21] and have been described more particularly asassociationist andcollectivist for his opposition to economic restraints without distinction between private and state monopoly.[21] Carey argued that ultimately, a causal chain could be drawn through "separation of [men], centralization of the mass, subjection of the many to the powerful few, slavery, stagnation, [and] decrease of real civilization."[38] Instead, the chain should be reversed at its start with "association, complexity of interests, decentralization, [and] harmonious increase of power."[38]

Carey's rejection of orthodox English economic theory was borne of a belief that the state, as the coordinating power in society, must intervene to prevent private advantage from working public mischief. Carey argued fordevelopmentalism, positing that state intervention was necessary to remove "the obstacles to the progress of younger communities created by the action of older and wealthier nations."[citation needed]

Carey's philosophy is condensed and summarized in his workThe Principles of Social Science, which frames social science and political economy from the perspective of the economic development of thecitizen, that is, one belonging to and responsible to a social community.[39] In hisPrinciples of Social Science, Carey appealed tonatural law to argue life must be intentionally oriented toward happiness and peace, and suffering is the result of willful ignorance of natural law. One way in which suffering is brought about is by obscuring the "real" man in favor of the "politico-economical man," a two-dimensional monster who "can be made to work, must be fed, and will procreate."[39] Carey therefore defined social science as "the science of laws which govern man in his efforts to secure for himself the highest individuality and the greatest power of association with his fellow men."[39] Political economy is thus the subset of social science that considers the measures that give these natural laws their fullest effect.[39]

Economic nationalism and trade

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Further information:Economic nationalism andProtectionism

A common theme in Carey's writing is the limits of international economic association and the necessary of national association,[38] and his best-known policy position was his defense ofprotective tariffs. He was described by an admirer as "rigid, devoted, and uncompromising" on the issue,[40] and as "a Cato hammering onhis one theme."[21] Critics accused Carey ofAnglophobia for his hostility to the system of free trade under the British Empire and British theories of political economy in general.[1]

Consistent with the law ofcomparative advantage, Carey argued global centralization required an international division of labor by which each nation developed only those resources in which it possessed a natural advantage. This system placed despotic power in the hands of those controlling the mediums of exchange; the places these middlemen congregated became the global marketplace.[38] Carey argued this theory was the basis for the British policy of imperialism and free trade, by which the Empire intended to establish a global monopoly on both manufacturing and shipping centered on London, while other nations were resigned to exporting raw materials.[38] To check centralization, Carey thus emphasized the need for human association; in Carey's writing, the natural form of association was the nation, an association of citizens. He suggested that the United States and other nations should interpose protective tariffs between themselves and London, increasing the cost of their raw materials, fostering domestic manufacturing, and depriving British manufacturers of a monopoly on finished goods.[38] This would enable the establishment of a middle class, the abolition ofchattel slavery, and the encouragement ofpatriotic feeling.[38]

Carey emphasized that the final result ofindustrialization would be the establishment of "perfect free trade" between developed nations, whose range of production would be limited only by absolute natural barriers.[41] His utopian vision was laid out in writing:

"Of the advantage of perfect free trade there can be no doubt. What is good between the states ought to be good the world over. But free trade can be successfully administered only after an apprenticeship of protection. Strictly speaking, taxation should all be direct. Tariff for revenue should not exist. Interference with trade is excusable only on ground of self-protection. A disturbing force of prodigious power pre- vents the loom and spindle from taking and keeping their proper places by the plow and harrow. When the protective regime has counteracted the elements of foreign opposition, obstacles to free trade will disappear and the tariff will pass out of existence. Wars will cease; for no chief magistrate will dare to recommend an increase of direct taxation."[41]

Carey further contrasted this theory of "perfect" free trade to the English system in a letter toHenry Wilson: "Free trade, as ultimated in England, is the most debased ignorance, the most abhorrent cruelty, the most disgusting vice and the most heart-breaking misery that can be seen in any country calling itself civilized and Christian."[41] Despite this stated utopian view, Carey never backed down from his support for high tariffs within his lifetime, believing that the United States had not reached complete economic development.[41]

In addition to his long advocacy for protectionism to obstruct international trade, Carey also opposed the institution of an internationalcopyright law, which he argued would dissolve national boundaries and lead to the formation of publishing monopolies.[38] This would in turn lead to a decline in the quality of literary writing, as the best authors did not write for wide audiences and would derive no benefit from a global market.[38]

Monetary and banking theory

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As a corollary to his system of protection, Carey developed a theory ofmonetary sovereignty built onfiat currency. Carey's monetary views were the basis for theNational Banking Act of 1863 and issuance ofgreenbacks and later popularly associated with theGreenback Party.[20]

He criticized the view ofDavid Hume,Adam Smith, andJohn Stuart Mill that currency served only as a symbol of wealth and was the least productive part of a nation's capital.[20] Instead, he argued nations should increase monetary reserves by any means; credit money was useful and necessary to the establishment of stable prices and credit growth. National sovereignty would be preserved through a domestic, non-exportable currency to inure domestic markets against fluctuations in the value of precious metals, while the gold dollar should serve as the unit of international exchange.[20] Carey opposed monetary contraction, arguing that increasing business development demanded an increasing currency supply. He accused the financial industry of artificially inflating interest rates and predicted that contraction would lead to political and economic chaos.[20] He was also an early advocate of bimetallism and the remonetization of silver in order to secure a stable national currency, fearing that gold reserves in the United States were too small.[20] His views on these issues were later incorporate in the platform of theGreenback Party, with which he was popularly associated, and thepopulist movement.[20]

In the realm of private banking, Carey was a lifelong advocate offree banking and believed banks were essential as springs of local business life; he discouraged the general attacks on private banking institutions made by some other "green-backers."[20]

Carey was sharply critical of British economistThomas Malthus, who argued that growth was inherently limited and excessive population led to suffering.

Criticism of Ricardo and Malthus

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See also:Malthusianism

InPrinciples of Social Science, Carey delivers a lengthy rebuke ofDavid Ricardo andThomas Malthus. He sharply distinguishesvalue, "man's power to command the always gratuitous services of nature,"[42] fromutility, the measure of man's power over nature. Value is limited by reproduction and declines with the increase of combination among men, while utility grows with the extension of human association.[42] Because value is constantly decreasing, Carey posits the power and wealth of the laborer will tend to increase both absolutely and relative to that of capital as population and association increase; he calls this "the most beautiful of all the laws recorded in the book of science.[42] As rents continually diminish, the farmer or laborer finds it easier to make his living.[42] Further, Carey believed that the history of human civilization demonstrated that human progress was from poorer to richer soils, whileRicardo's law of comparative advantage is dependent on the opposite assumption.[42]Charles Herbert Levermore compares Carey's reasoning to that ofPierre Paul Leroy-Beaulieu a half century later.[42]

Malthus, Carey says, "teaches that a monopoly of the land is in accordance with a law of nature. Admiring morality, he promotes profligacy by encouraging celibacy. ... Desirous to uplift the people, he tells the landowner and the laborer thatthe loss of the one is the gain of the other. His book is the true manual of the demagogue, seeking power by means of agrarianism, war and plunder."[42] Carey also criticizes Malthus for failing to prove his ratios of production and consumption, given variation in the growth cycle of plants and the diets of humans over time,[b] and for contradicting the Christian belief of the goodness of God, whowould be malicious to create a world which could not sustain the proliferation of humanity.[42] Carey also citesHerbert Spencer to argue "the degree of fertility varies inversely [against the development of] the nervous system," which suggests thatresource scarcity is a greater restraint in less developed societies and population is self-regulative.[42]

Legacy

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Upon his death, Carey's library was donated to theUniversity of Pennsylvania.[4]

Carey's economic theories not only impacted Western and American economic thought but also resonated with intellectuals in other parts of the world. For instance,Gebrehiwot Baykedagn, an Ethiopianeconomist and reformer, was influenced by Carey's principles. Baykedagn applied Carey's ideas on protectionism and national economic self-sufficiency to the context of Ethiopia, advocating for policies that would modernize and strengthen the country's economy.[43]

A portrait of Carey painted by his brother-in-lawCharles Robert Leslie is housed by thePennsylvania Academy of the Fine Arts.[44]

Carey elected to prestigious societies during his lifetime:

Publications

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An 1857Harper's Weekly column describes Carey as "the best known as well as the ablest of American Political Economists."

Within his lifetime, Carey's works were translated into English, French, German, Italian, Swedish, Russian, Hungarian, Japanese, and Portuguese.[14][9] His works have been compared to those ofFriedrich List and Stephen Colwell, a close friend also of Philadelphia.[14]

Carey's publications included:

Books

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Essays and pamphlets

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Carey wrote an estimated three thousand pages of pamphlets and articles for theNew York Tribune;The Plough, the Loom, and the Anvil; the PhiladelphiaNorth American, and other publications.[46] Below is a selection of his work.

  • What Constitutes Currency? What are the Causes of Unsteadiness in the Currency? and What is the Remedy?, 1840.
  • Commercial Associations of France and England, 1845.
  • What Constitutes Real Freedom of Trade?, American Whig Review 6, no. 2, 1850.
  • What the North Desires, —.
  • Two Diseases Raging in the Union: Anti-Slavery and Pro-Slavery, —.
  • The Prospect, Agricultural Manufacturing, Commercial, and Financial at the Opening of the Year, 1851.
  • How to Increase Competition for the Purchase of Labor and How to Raise the Wages of Labor, 1852.
  • Two Letters to a Cotton Planter, —.
  • Ireland's Miseries and their Cause, —.
  • The Working of British Free Trade, —.
  • British Free Trade in Ireland, —.
  • Letter to a Farmer of Ohio, —.
  • Three Letters to Hon. R. M. T. Hunter, —.
  • The Present Commercial Policy of the County, —.
  • Letters on International Copyright, Philadelphia, 1853, (2nd ed. 1868).
  • The North and the South, New York, Ann Arbor, Office of the Tribune, 1854.
  • Coal: Its Producers and Consumers, —.
  • American Labor Versus British Free Trade, Philadelphia, 1855.
  • The True Policy of the South, –.
  • Present Situation and Future Prospects of American Railroads, –.
  • Money: A Lecture Delivered before the New York Geographical and Statistical Society, Philadelphia, 1856, (2nd ed. 1860).
  • The French and American Tariffs Compared, 1861.
  • Contraction or Expansion? Repudiation or Resumption?, Philadelphia, 1866.
  • Resources of the Union: A Lecture Before the American Geographical and Statistical Society, 1866.
  • The National Bank Amendment Bill, –.
  • The Public Debt, Local and National, Philadelphia, –.
  • Review of the Decade 1857–67, Philadelphia, —.
  • The Finance Minister, the Currency, and the Public Debt, 1868.
  • Resumption: How It May Be Profitably Brought About, 1869.
  • How protection, increase of public and private revenues, and national independence, march hand in hand together, Philadelphia, 1869.
  • Review of the Farmer's Question, 1870.
  • Wealth: Of What Does it Consist?, —.
  • A Memoir of Stephen Colwell: Read before the American Philosophical Society, Philadelphia, 1871.
  • The International Copyright Question Considered, 1872.
  • The Rate of Interest and its Influence on the Relations of Capital and Labor, 1873. (speech to the Pennsylvania Constitutional Convention).
  • Capital and Labor, 1874. (Report of the Committee on Industrial Interests and Labor in the Pennsylvania Constitutional Convention).
  • The British Treaties of 1871 and 1874, —.
  • The Senate Finance Bill, 1875.
  • Manufactures: At Once an Evidence and a Measure of Civilization, —.
  • To the Friends of the Union Throughout the Union, 1876.
  • Appreciation of the Price of Gold:Evidence Before the U.S. Monetary Commission, —.
  • The Three Most Prosperous Countries in the World, 1877.
  • Resumption: When and How will it End?, —.
  • Repudiation: Past, Present, and Future, 1879.

Published correspondence

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A number of Carey's publications were selected from his private correspondence with Republican politicians or public polemic letters written for dissemination.[46]

References

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  1. ^abcdefghElder 1880, pp. 31–36.
  2. ^abChisholm, Hugh, ed. (1911)."Carey, Henry Charles" .Encyclopædia Britannica. Vol. 5 (11th ed.). Cambridge University Press.
  3. ^abAAAS 1881, p. 417.
  4. ^abcElder 1880, p. 32.
  5. ^abcdElder 1880, p. 25.
  6. ^abcd"Obituary: Henry Charles Carey".The New York Times. October 14, 1879. p. 5. RetrievedMarch 13, 2021 – via Newspapers.com.
  7. ^abcLevermore 1890, pp. 554–55.
  8. ^Levermore 1890, p. 556.
  9. ^abLevermore 1890, p. 561.
  10. ^abLevermore 1890, pp. 556–57.
  11. ^abcdefgLevermore 1890, pp. 558–60.
  12. ^abcElder 1880, p. 26.
  13. ^Elder 1880, p. 27.
  14. ^abcdeElder 1880, pp. 27–29.
  15. ^Marx & Engels 1975, pp. 63–64.
  16. ^Marx & Engels 1975, pp. 78–79.
  17. ^Marx & Engels 1975, pp. 67–70, 225–28.
  18. ^Levermore 1890, pp. 565.
  19. ^abcElder 1880, p. 23.
  20. ^abcdefghiLevermore 1890, pp. 570–72.
  21. ^abcdefghLee 1957.
  22. ^abcLee 1957, pp. 284–87.
  23. ^Lee 1957, p. 284.
  24. ^abcLee 1957, pp. 287–92.
  25. ^Lee 1957, p. 289.
  26. ^abcLevermore 1890, pp. 568–69.
  27. ^Lee 1957, p. 290.
  28. ^Lee 1957, pp. 298–.
  29. ^Smith 1951, p. 85.
  30. ^Koerner, Gustave (1909).Memoirs of Gustave Koerner. Vol. II. Cedar Rapids. p. 86.{{cite book}}: CS1 maint: location missing publisher (link)
  31. ^Lee 1957, p. 292.
  32. ^Luthin 1964, pp. 626–27.
  33. ^abcdLee 1957, pp. 293–96.
  34. ^Lee 1957, pp. 297–.
  35. ^abcLee 1957, pp. 297–300.
  36. ^abLevermore 1890, pp. 570–572.
  37. ^Levermore 1890.
  38. ^abcdefghiLevermore 1890, pp. 566–68.
  39. ^abcdLevermore 1890, pp. 562–68.
  40. ^Elder 1880, p. 30–31.
  41. ^abcdLevermore 1890, p. 570.
  42. ^abcdefghijLevermore 1890, pp. 562–66.
  43. ^Economics of Late Development and Industrialization: Putting Gebrehiwot Baykedagn (1886–1919) in Context by Zinabu Samaro Rekiso
  44. ^"Henry C. Carey by Charles R. Leslie". c. 1826.
  45. ^"APS Member History".search.amphilsoc.org. RetrievedApril 8, 2021.
  46. ^abElder 1880, p. 39.

Notes

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  1. ^Some sources claim Carey was as young as eight.[3]
  2. ^Levermore posits that Carey, in arguing for a subsistence diet, consciously elevatedvegetarianism and the work ofSylvester Graham.[42]

Bibliography

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