Henry Charles Carey Quotes


With every step of our progress in that direction, social inequality tends to increase. The skillful speculator realizes a fortune by the same operation that ruins hundreds around him, and adds to his fortune by buying their property under the hammer of the sheriff. The wealthy manufacturer is unmoved by revulsions in the British market which sweep away his competitors, and, when the storm blows over, he is enabled to double, treble, or quadruple, his already overgrown fortune... The system tends to make the rich richer and the poor poorer.


Context

America’s first political economist


Citations

Henry Charles Carey, 1793-1879, Political Economist & Publisher The Harmony of Interests: Agricultural, Manufacturing & Commercial, 1851

Sourced by: Eigen's Political and Historical Quotations

Related Quotes

The doctrine of the Southern Cotton industry before the Civil War was that Capital should not only use labor and control labor, but that in true capitalism, Capital should own labor—slavery. This Southern hostility towards labor rights and organized labor was derived from this extremist view of capitalism.


There were few if any consumer protection laws in those days and many wealthy aristocrats made their money by taking advantage of the poor. They were the landowners, bankers, financiers and often the industrialists. Shaw was a sarcastic social critic and this is a typical line he gave his upper class characters. Today, we have more controls on business and finance, and many wealthy business people have gotten that way by providing great value to the consumers and being honest. However, we still have large numbers of wealthy members of society who do make their money from the poor and middle class by unethical and often illegal means. In the aftermath of the Meltdown of 2008. hundreds of thousands of the homes of the working poor and middle class were foreclosed by the major banks forging the legal documentation for the foreclusures. Millions of consumer contracts are issued that even a PhD cannot understand the terms of without special legal and financial training. There is even a legal definition of a salesperson lying to make a sale which is so commonplace that our law excuses it and calls it "puffing". However, there has been over time, improvement over Shaw's era.


Henry Charles Carey
Henry Charles Carey
  • Born: December 15, 1793
  • Died: October 13, 1879
  • Nationality: American
  • Profession: Economist

Henry Charles Carey was the leading 19th-century economist of the American School, and chief economic adviser to U.S. President Abraham Lincoln.