"It will be said, however, that protection tends to destroy commerce, the civilizer of mankind. Directly the reverse, however, is the fact"
- Henry Charles Carey
About this Quote
Henry Charles Carey's quote suggests that protectionism does not damage commerce, however rather, it is the opposite. He argues that protectionism actually helps to civilize humanity. This is because protectionism encourages the advancement of domestic markets, which in turn produces jobs and increases financial activity. This increased economic activity leads to increased wealth and enhanced standards of living. Moreover, protectionism can likewise assist to secure domestic markets from foreign competition, allowing them to grow and develop. Ultimately, protectionism can be helpful to both domestic and global economies, as it motivates financial development and development.
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