Henry C. Carey's Monetary Thought and American Industrialization in the Greenback Debate

Datos Bibliográficos

ID3133049
AutoresSofia Valeonti (PHARE, University Paris 1 Panthéon-Sorbonne, 106–12 Boulevard de l'Hôpital, 75013 Paris, France; and by email: [email protected]., autor de correspondencia)
Año2022
Volumen54
Número2
Páginas189-216
Fecha de publicación2022-04-01
Peer ReviewedSí
Open AccessNo
TipoARTICLE
RevistaHistory of Political Economy (JOURNAL)
Identificadores de la revistaISSN: 0018-2702 • E-ISSN: 1527-1919
EditorialDuke University Press (PUBLISHER • US)
DOI10.1215/00182702-9699025
OpenAlexW4213170098
IdiomaEN
Citas recibidas2
Referencias citadas36

This article seeks to reveal the links between Henry C. Carey's monetary theory in the greenback debate and the sectionalist issue within the US Reconstruction period. Sectionalism refers to the economic, political, and cultural differences between the North and South that led to the Civil War and persisted during Reconstruction. It is well known that Carey perceived those differences before the war and proposed, on grounds of his economic development theory, to alleviate sectionalism through a protective tariff. What is hardly known is that Carey continued to engage with the sectionalist issue in its new form during the Reconstruction period and tried to offer a solution to it via protectionism and greenbacks. He showed how greenbacks could put in motion a virtuous cycle of economic development and tied his solution to sectionalism to national independence

Development economics · Economic history · Economics · Independence (probability theory · Industrialisation · International trade · Period (music · Political economy · Political science · Politics · Protectionism · Economic Theory and Institutions · Economic Theory and Policy · Law · Monetary Policy and Economic Impact · Philosophy