Henry Charles Carey Quotes
It will be said, however, that protection tends to destroy commerce, the civilizer of mankind. Directly the reverse, however, is the fact.
Carey, Henry C. The Slave Trade, Domestic and Foreign: Why It Exists, and How It May Be Extinguished. A. Hart, late Carey & Hart, 1853, p. 309.
Despite this economic reality, many underdeveloped nations sell their raw materials because it is easier than the alternative which takes capital investment in processing plants and equipment, training of workers, and establishing a marketing mechanism. Most third world nations are limited in their capacity to do this but they have abundant natural resources.
Whitaker was right bet at that time his advice was not heeded. When Ireland late in the 20th century finally acted on his advice and eliminated almost all of their protectionism, the economy thrived and not only did the Irish emigration stop, but people began to immigrate to Ireland for the economic opportunity.
Henry Charles Carey was the leading 19th-century economist of the American School, and chief economic adviser to U.S. President Abraham Lincoln.