Henry Charles Carey Quotes
Throughout the world, and in all ages, freedom has advanced with every increase in the ratio of wealth to population....
America’s first political economist
Henry Charles Carey, 1793-1879, Political Economist & Publisher The Harmony of Interests: Agricultural, Manufacturing & Commercial, 1851
Sourced by: Eigen's Political and Historical Quotations
He was answering a question of why many people in Eastern Europe were not more enthusiastic about their freedom and democracy.
At the time of this quotation, the nation had gone through more than 3 decades of enormous increase in prosperity for the wealthy, and modest gains for the highly skilled, technically trained workers. However, correcting for inflation, average salaries did not increase at all. The middle class was particularly hard hit. Only 20 percent of the population benefitted from the growth at all; however, the 1 percent had rarely prospered more. Kenworthy’s principle did not apply for this period of American history.
Although India has been a thriving democracy since its independence. Nonetheless, there has been a strong governmental tradition in India of great regulation and control of business and the economy.
Explaining the consequences of the New Deal:
Henry Charles Carey was the leading 19th-century economist of the American School, and chief economic adviser to U.S. President Abraham Lincoln.