Carey, Henry C.

▪ American economist

in full  Henry Charles Carey 

born December 15, 1793, Philadelphia, Pennsylvania, U.S.

died October 13, 1879, Philadelphia

      American economist and sociologist, often called the founder of the American school of economics, widely known in his day as an advocate of trade barriers.

      The son of Mathew Carey, an Irish-Catholic political refugee, writer, and publisher, the American-born Carey became a partner in and later president of Carey, Lea & Carey, a leading publishing house in Philadelphia. His broad but informal education gave Carey a cursory acquaintance with many fields of learning.

      After 1835 he devoted himself to writing sociological and economic books and pamphlets. Among his more important works are Essay on the Rate of Wages (1835), Principles of Political Economy (1837–40), Principles of Social Science (1858–60), and The Unity of Law (1872). Translated into at least eight languages, his work was often used as a foil for laissez-faire economic policies.

      He became increasingly critical of English classical (classical economics) political economy. As an optimist, he believed in the possibility of steady economic progress and in the harmony of diverse economic interests. Still, as a Republican and a nationalist, Carey believed trade protection was essential during the initial phase of a nation's industrial development. His home served as a salon for disciples and visitors, and his reputation was perhaps greater abroad than at home.

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