Meaning: The quote by Henry Carey, an American economist, highlights the consequences of a system that prioritizes the export of raw products, leading to the depletion of natural resources, the exploitation of labor, and ultimately the export of the labor force. Carey's quote is a critique of an economic system that focuses on extracting raw materials for export, often at the expense of the environment and the well-being of workers.

Carey was a prominent advocate of protectionist economic policies and a critic of the prevailing free trade ideology of his time. He believed that a nation's economic development should prioritize the well-being of its citizens and the sustainable use of natural resources. In the quote, Carey expresses his concerns about the negative effects of a system that prioritizes the export of raw products, leading to the exhaustion of the land and the cheapening of labor.

One of the key points in Carey's quote is the idea that the export-oriented economic system leads to the exhaustion of the land. This refers to the overexploitation of natural resources to meet the demands of export markets, without adequate consideration for the long-term sustainability of the land. As a consequence, this approach can lead to environmental degradation, loss of biodiversity, and the degradation of ecosystems, ultimately harming the land's ability to support future generations.

Furthermore, Carey emphasizes the cheapening of labor as a consequence of the export-oriented system. This suggests that in order to compete in the global market, labor costs are driven down, often leading to poor working conditions, low wages, and a lack of job security for workers. The prioritization of export-driven production can lead to the exploitation of labor, as companies seek to minimize costs to remain competitive in the global market.

Moreover, Carey's reference to the export of the laborer reflects the phenomenon of labor migration driven by economic factors. In the pursuit of better opportunities, workers may be forced to leave their home countries to seek employment abroad, often in industries that cater to the demands of the global market. This can lead to the displacement of communities, separation of families, and the loss of skilled workers in their home countries.

In essence, Carey's quote serves as a warning against the detrimental effects of an economic system that prioritizes the export of raw products at the expense of the environment and labor. It underscores the importance of considering the long-term impacts of economic policies on the sustainability of natural resources and the well-being of workers. Carey's ideas continue to resonate in contemporary debates about the balance between economic growth, environmental sustainability, and social justice.

In conclusion, Henry Carey's quote encapsulates his critique of an economic system that prioritizes the export of raw products, highlighting the detrimental consequences such as the exhaustion of the land, the cheapening of labor, and the export of the laborer. His insights prompt us to consider the implications of global economic systems on the environment and labor conditions, urging a more balanced and sustainable approach to economic development. Carey's ideas remain relevant today, offering valuable perspectives on the intersection of economics, environmental stewardship, and social welfare.