"The commerce of India does not grow, nor does that of Portugal, or of Turkey; that but that of the protected countries does increase, as has been shown in the case of Spain, and can now be shown in that of Germany"
- Henry Charles Carey
About this Quote
Henry Charles Carey's quote is describing the financial development of different countries. He is recommending that the nations that are protected, such as Spain and Germany, are the ones that are experiencing financial development. He is suggesting that the countries that are not secured, such as India, Portugal, and also Turkey, are not experiencing economic development. This could be due to the lack of defense from outside forces, such as tolls and also other trade barriers. Carey is recommending that protectionism is valuable for economic growth, as it can aid to protect residential industries from foreign competitors. He is additionally recommending that nations should want to secure their own markets in order to experience economic development. In general, Carey's quote is suggesting that protectionism is valuable for economic growth, and that nations need to look to secure their very own markets in order to experience economic development.
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