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Nassau William Senior Biography

Economist

Nassau William Senior was a prominent British economist born on September 26, 1790, and died on June 4, 1864. He made significant contributions to the field of economics, particularly in labor theory of value and tax theory.

Government Would Be Purpose Worst Errors Protection Interfere Propositions Admission Affording

Author:Nassau William Senior

“The business of a Political Economist is neither to recommend nor to dissuade, but to state general principles, which it is fatal to neglect, but neither advisable, nor perhaps practicable, to use as the sole, or even the principal, guides in the actual conduct of affairs.”

States Use Political Principles Affair Guides Neglect Sole Principal Economist Advisable

Book:Political Economy

Source: Political Economy

“The payment made by a manufacturer to a patentee for the privilege of using the patent process, is usually termed, in commercial language, a rent; and under the same head must be ranked all extraordinary qualities of body and mind.”

Mind Made Body Language Process Quality Extraordinary Privilege Mind And Body Payment Patents

Book:Political Economy

Source: Political Economy

“Value denotes a relation reciprocally existing between two objects, and the precise relation which it denotes is the quantity of the one which can be obtained in exchange for a given quantity of the other.”

Two Values Given Objects Relation Quantity Precise

Book:An Outline of the Science of Political Economy

Source: An Outline of the Science of Political Economy

“The state, by relieving idleness, improvidence, or misconduct from punishment, and depriving abstinence and foresight of the reward, which have been provided for them by nature, may indeed destroy wealth, but most certainly will aggravate poverty.”

May Has Beens States Wealth Poverty Rewards Punishment Idleness Foresight Abstinence Depriving Misconduct

Author:Nassau William Senior

“To abstain from the enjoyment which is in our power, or to seek distant rather than immediate results, are among the most painful exertions of the human will.”

Humans Results Painful Persistence Enjoyment Exertion Human Will

Book:Political Economy: Reprinted from the Original Edition

Source: Political Economy: Reprinted from the Original Edition

“But that the reasoning from these facts, the drawing from them correct conclusions, is a matter of great difficulty, may be inferred from the imperfect state in which the Science is now found after it has been so long and so intensely studied.”

May Long Has Beens Matter States Facts Science Found Difficulty Drawing Conclusion Reasoning Imperfect Drawing Conclusions

Book:Political Economy

Source: Political Economy

“With respect to the first of these obstacles, it has often been made a matter of grave complaint against Political Economists, that they confine their attention to Wealth, and disregard all consideration of Happiness or Virtue.”

Firsts Made Matter Happiness Political Wealth Attention Virtue Obstacles Graves Consideration Complaints Economist Disregard

Book:An Outline of the Science of Political Economy

Source: An Outline of the Science of Political Economy

“We propose in the following Treatise to give an outline of the Science which treats of the Nature, the Production, and the Distribution of Wealth. To that Science we give the name of Political Economy.”

Giving Science Political Names Wealth Economy Treats Productions Following Distribution Propose Outlines Political Economy Distribution Of Wealth Politics And Economics

Book:Political Economy

Source: Political Economy

“The time I trust will come, perhaps within the lives of some of us, when the outline of this science will be clearly made out and generally recognised, when its nomenclature will be fixed, and its principles form a part of elementary instruction.”

Made Form Science Principles Fixed Instruction Outlines Nomenclature

Author:Nassau William Senior

About the Author

Born: September 26, 1790
Died: June 4, 1864
Known for: Economist
Quotes: 10

Books & Sources

Political EconomyRelated source material

An Outline of the Science of Political EconomyRelated source material

Political Economy: Reprinted from the Original EditionRelated source material

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