Famous quote by Henry Charles Carey

"As regards this country, in which protection has always to some extent existed, it is the best customer that England ever had, and our demands upon her grow most steadily and regularly under protection"

About this Quote

In the quote by Henry Charles Carey, a popular 19th-century American economic expert and proponent of protectionist trade policies, the focus is on the relationship between protectionism and economic need, particularly in relation to England. Carey's assertion can be unpacked as follows:

First, Carey acknowledges that protectionism-- policies designed to protect domestic industries from foreign competition through tariffs, quotas, and other restrictions-- has been a persistent element of financial policy within the United States ("this nation"). He argues that in spite of criticisms of protectionism, or perhaps because of it, the United States has actually preserved robust economic interactions with England. By describing his own country as "the very best client that England ever had", Carey is recommending that protective steps have actually not obstructed trade relations with England. Rather, they have promoted a stable and growing need for English items under a protective policy structure.

Carey further asserts that the United States' needs on England "grow most gradually and frequently under protection". This statement indicates that the protective financial policies did not disrupt trade however instead assisted in a constant and foreseeable increase in the demand for British imports. In essence, Carey is advocating the view that protectionism does not necessarily isolate a nation from international trade; rather, it can encourage the development of domestic markets in a manner that ultimately strengthens trade relationships.

His argument indirectly suggests that by supporting American industries through protectionism, the United States can attain a more balanced and beneficial trade relationship. The domestic stability managed by protection, according to Carey, enables the nation to be a reputable trading partner with a progressively increasing hunger for imported items.

Therefore, Carey's quote highlights a defense of protectionism by arguing that it leads to a more sustainable and helpful economic engagement with foreign partners, challenging the idea that open market is the only path to strong worldwide trade relations. His point of view invites further discussion on the intricacies of economic policies and their real-world impacts on trade dynamics.

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About the Author

USA Flag This quote is from Henry Charles Carey between December 15, 1793 and October 13, 1879. He/she was a famous Economist from USA. The author also have 17 other quotes.
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