Henry Charles Carey

Henry Charles Carey (1793-1879) was an American economist and sociologist, who is considered to be the founder of the American school of economics. His major works include: Essay on the Rate of Wages (1835), Principles of Political Economy (1837-1840), Principles of Social Science (1858-1860), and The Unity of Law (1872). Galbraith refers to Carey as one of the three "distinctly American figures" in the history of economic theory. Of these three, Galbraith notes, Carey was the exception in that his views were optimistic as to the economic future of society. In contrast to earlier theorists, Galbraith observes, Carey argued that wages had increased over time. Galbraith points out, however, that Carey was not a particularly influential figure in economic theory. He concludes that Carey's work is not a significant factor in the "tradition of American economic thought," and that his books, receiving little serious attention, "moldered and died...