The development of economic thought (ET) of the mid-19th cent. is essentially a history of classical English political economy. The tenets of this school were communicated to the U.S., where the writings of Smith, Malthus, Mill, & Ricardo were adopted by early Amer. political economists. But there was also a strain of political economy in the U.S. at that time that opposed the adoption of the philosophy of classical political economy. This was the nationalistically-oriented Amer. school of ET, & the foremost member of this movement was Henry C. Carey. Contents: Political Economy in 19th-cent. America; A New Methodology & a Theory of Value; Distribution: Labor, Capital, & Land; Institutional Framework; & A Theory of Trade; A Theory of Econ. Develop.