Capitalists and Workers in Agreement
CAREY, Henry Charles.
Essay on the rate of wages, with an examination of the cause of the differences in the condition of the labouring population throughout the world. Philadelphia, Carey, Lea and Blanchard, 1835.
8vo, pp. [2], 255, [1]; pagination erratic but complete; a very good copy, in contemporary half morocco with the U.S. Treasury Department gilt stamp on the cover and spine; spine and edges rubbed; Department of Commerce bookplate over the Treasury bookplate, ink stamp of the U.S. Treasury Statistics Bureau on the title-page, Department of Commerce embossed stamp in the same place.
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Essay on the rate of wages, with an examination of the cause of the differences in the condition of the labouring population throughout the world.
First edition. In this, his first work, Carey (1793–1879) opposed trade restrictions as running counter to the providential order, and postulated harmony between capitalists and workers, the former benefitting from rising profits and the latter from wages that rose as a result of the accumulation of capital. ‘In other respects this work anticipated many ideas that were more fully worked out in Carey’s later writings, such as the harmonious “law of distribution” which makes the accumulation of capital the all-important instrument of concordant economic progress: with capital increasing more rapidly than population and with increasing production, profits rise absolutely and relatively’ (IESS).
Einaudi 879; Goldsmiths’ 28901; Kress C.3923; Mattioli 562; McCulloch, p. 289