Meaning: The quote "In the period from 1824 to 1833, the tendency was steadily in the former direction, but it was only in the latter part of it that it was made really efficient" by Henry Carey, an economist, refers to a specific time period and the progress of a certain tendency. To fully understand the context and significance of this quote, it is important to explore the historical and economic background of the period in question, as well as the contributions and perspectives of Henry Carey.

The period from 1824 to 1833 was a time of significant economic and industrial change, particularly in the United States and Europe. This was the era of the Industrial Revolution, a period marked by technological advancements, urbanization, and the transition from agrarian to industrial economies. In the United States, this period saw the emergence of the American System, a set of economic policies aimed at promoting industry and infrastructure development, which had a profound impact on the country's economic trajectory.

During this time, the "former direction" mentioned in the quote likely refers to the economic and industrial trends that were prevalent before the period in question. These trends may have included a reliance on agrarian economies, limited industrialization, and a lack of efficient economic policies to promote growth and development. The "latter part of it" refers to the later years of the period, during which efforts were made to make these tendencies more "efficient."

Henry Carey, the economist mentioned in the quote, was a prominent figure in the economic and political discourse of the 19th century. He is known for his advocacy of protectionist economic policies and his criticism of classical economic theories, particularly those espoused by British economists such as David Ricardo. Carey's views on economics were shaped by his belief in the importance of domestic industry, infrastructure development, and government intervention in the economy to promote economic growth and prosperity.

Carey's work and writings align with the themes present in the quote, as he was a vocal proponent of policies that aimed to shift economic tendencies in a direction that would lead to greater efficiency and development. His advocacy for protective tariffs, government investment in infrastructure, and promotion of domestic industry reflected a desire to make economic policies more efficient in driving growth and prosperity.

In the context of the quote, it can be inferred that the "tendency" being referred to is the shift towards more efficient and impactful economic policies, particularly those advocated by figures like Henry Carey. The quote suggests that while this tendency was steadily progressing during the period from 1824 to 1833, it was only in the latter part of this period that it was made truly efficient.

Overall, the quote by Henry Carey captures the evolving economic landscape of the early 19th century and the efforts to steer economic tendencies in a direction that would lead to greater efficiency and progress. It reflects the broader debates and developments in economic thought and policy during this transformative period in history. Henry Carey's contributions to economic theory and policy continue to be studied and debated, and his perspectives on the need for efficient economic policies remain relevant in contemporary discussions on economic development and prosperity.