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The Past, the Present, and the Future
Philadelphia: Carey & Hart,, 1848. Octavo. Original purple cloth, titles to spine gilt, decoration to boards and spine in blind, yellow endpapers. Spine and edges of boards faded, ink stain to foot of spine, slight dampstaining to top edge of front board and fore edge of text block, small chips to fore edge of front free endpaper and initial leaf, the occasional minor blemish to contents. A very good copy. First edition. Inscribed by the author on the title page: "To J. W. Collyn with the regards of the Author". In The Past, the Present, and the Future, Carey (1793?1879) vigorously appeals for tariff protection and attacks the Ricardian theory of rent. He argues that "the historical sequence of cultivation at least in the United States was the exact reverse of the one proposed by Ricardo, namely, from inferior to superior land, apparently because returns from the application of capital to land yield increasing rather than diminishing returns" (Blaug). The similarity of ideas between Bastiat and Carey is well documented, particularly the close parallelism in their theories of the origin of land value. However, Haney observes that "Carey impresses the reader as decidedly the more original, and on the whole his work antedated Bastiat's" (Haney, p. 338). Carey's ideas caused much controversy and were refuted by Mill in his Principles of Political Economy (1848).
      [Bookseller: Peter Harrington]
Last Found On: 2016-11-13           Check availability:      Biblio    

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