Note 699 — Chapter I · : THE OPTIMISTS

Henry Charles Carey was born at Philadelphia in 1793, and died in 1879. Up to the age of forty-two he followed the profession of a publisher, retiring in 1835 to devote himself to economic studies. The three volumes of his Principles of Political Economy were issued in 1837, 1838, and 1840 respectively. In 1848 appeared The Past, the Present, and the Future, which contains his theory of rent. In 1850 his Harmony of Interests, Agricultural, Manufacturing, and Commercial, was published, and in 1858-59 his Principles of Social Science.

These dates possess some importance. At the time of the publication of the Harmonies in 1850 Carey wrote a letter to the Journal des Économistes accusing Bastiat of plagiarism. Bastiat, who was already on the point of death, wrote to the same paper to defend himself. He admitted that he had read Carey’s first book, and excuses himself for not making any reference to it on the ground that Carey had said so many uncomplimentary things about the French that he hesitated to recommend his work. Several foreign economists have since made the assertion that Bastiat merely copied Carey, but this is a gross exaggeration. Coincidence is a common feature in literary and scientific history. We have quite a recent instance in the simultaneous appearance of the utility theory in England and France.