Nassau W. Senior's An Outline of the Science of Political Economy PDF

By Nassau W. Senior

ISBN-10: 1410203859

ISBN-13: 9781410203854

Nassau William Senior (1790-1864) - economist, serious essayist and executive adviser - used to be a hugely unique classical economist within the period among Ricardo's ideas of 1817 and Mill's ideas of 1848. He used to be the 1st Professor of Political financial system at Oxford, and in his released works he made unique contributions to the idea of price, hire, inhabitants, cash, and foreign alternate. Senior was once an lively proponent of laissez-faire. even supposing Senior didn't in achieving the originality and impression of the best economists of the classical tuition - Smith, Ricardo, and Malthus - he did make a permanent contribution at the improvement of economics. John Stuart Mill took a lot attempt to answer Senior.

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Extra info for An Outline of the Science of Political Economy

Example text

Mill, Mr. M'Culloch, Colonel Torrens, Mr. Malthus, and M. Flores-Estrada, appear to suppose that a definition so restricted will comprise every thing that can properly be termed wealth; others, among whom is Mr. Ricardo, admit that there are some things falling within that term which have not been acquired by human exertion, but think them so few or unimportant that it is better to omit them than to disorder the symmetry of the Science by extending it to any thing that is not the result of labour.

It would be incurred not only in consequence of that miscalculation of chances to which all men are subject, and certainly those not the least so who are anxious to marry, but through accidents against which no human prudence can guard. A single bad harvest may be provided against, but a succession of unfavourable seasons (and such successions do occur) must reduce such a people to absolute famine. When such seasons affect a nation indulging in considerable superfluous expenditure, they are relieved by a temporary sacrifice of that superfluity.

The unwholesomeness of some districts is unquestionably such as to keep them totally unpeopled, or inhabited by strangers, whose numbers must be constantly recruited. Such, for instance, appears to be the case in the most unhealthy parts of Italy. Such is the case with large manufacturing towns even in the most favourable climates, unless great skill and great care are directed towards their cleanliness and ventilation. And in a newly colonized Country like the back settlements of America, where the abundance of land and the constantly increasing means of subsistence would render any preventive check unnecessary, any cause diminishing longevity must retard increase.

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An Outline of the Science of Political Economy by Nassau W. Senior

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