Senior, Nassau William

▪ British economist
born September 26, 1790, Compton Beauchamp, Berkshire, England
died June 4, 1864, London

      British classical economist who influenced the political and economic policies of his day.

      Senior was educated at Eton and at the University of Oxford, from which he graduated in 1812. He qualified as a lawyer in 1819. It was as an economist, however, that Senior made his greatest contributions. He became one of the leading economic theorists of the first half of the 19th century and was the first Drummond Professor of Political Economy at Oxford (1825–30, 1847–52).

      In An Outline of the Science of Political Economy (1836), he introduced the view—later attacked by Marxists—that savings and the accumulation of capital should be considered parts of the cost of production. He also worked on the concept of rent, advanced the abstinence theory of profits (which described a reward for abstaining from spending one's accumulated capital), and led the revolt among the classical economists against the Malthusian theory of population. In his two lectures on population (1829), which were some of the first criticisms of Thomas Malthus (Malthus, Thomas Robert), Senior argued that the combination of rising living standards and population growth offered strong evidence against Malthus's pessimistic theory. He also contributed to theories on the distribution of precious metals and showed the relationship between productivity and price levels.

      Actively involved in the setting of economic policy, Senior served as adviser to the Whig Party and wrote the New Poor Law (Poor Law) of 1834. He was also one of the commissioners on handloom weavers (1841) and advised the government of Prime Minister William Melbourne (Melbourne, William Lamb, 2nd Viscount, Lord Melbourne, Baron of Kilmore, Baron Melbourne of Melbourne) to oppose trade unions (trade union).

* * *


Universalium. 2010.

Look at other dictionaries:

  • Senior, Nassau William — (1790 1864)    Economist and essayist, s. of a clergyman, was b. at Compton Beauchamp, Berks, ed. at Eton and Oxf., studied law, and was called to the Bar in 1819. He twice held the Professorship of Political Economy at Oxf., 1825 30 and 1847 52 …   Short biographical dictionary of English literature

  • Nassau William Senior — (26 September 1790 4 June 1864), English economist, was born at Compton, Berkshire, the eldest son of the Rev. JR Senior, vicar of Durnford, Wiltshire.[1] …   Wikipedia

  • Nassau William Senior — Nassau William Senior. Nassau William Senior (* 26. September 1790 in Compton, Grafschaft Berkshire; † 4. Juni 1864 in Kensington) war ein englischer Nationalökonom, ältester Sohn von JR Senior, Vikar von Durnford, Wiltshire. Leben Senior wurde… …   Deutsch Wikipedia

  • Nassau William Senior — (26 septembre 1790 4 juin 1864) était un économiste britannique. Selon John F. Bell, il était « le plus grand économiste anglais de la période entre Ricardo et John Stuart Mill[1] ». Senior naît dans une famille… …   Wikipédia en Français

  • Nassau Senior — Nassau William Senior Nassau William Senior (26 septembre 1790 4 juin 1864) était un économiste britannique. Selon John F. Bell, il était « le plus grand économiste anglais de la période entre Ricardo et John Stuart Mill[1] ». Senior… …   Wikipédia en Français

  • William III of England — William III II William III by Sir Godfrey Kneller Prince of Orange Reign 4 November 1650 …   Wikipedia

  • Nassau — may mean the following: Placenames Germany Nassau, Germany, a town in Rhineland Palatinate founded in AD 915, after which all the following (except the village in Saxony) are named, directly or indirectly Nassau Castle, ancestral seat of the… …   Wikipedia

  • Senior — rsp. senior (lat. ‚älter‘) steht für: einen älteren Menschen, siehe Senioren den Älteren bei gleichnamigen Personen, siehe Namenszusatz #Senior den älteren Teilhaber einer Firma, siehe Seniorpartner einen Zusatz zu einer Stellenbezeichnung einer… …   Deutsch Wikipedia

  • Sénior — es una palabra de origen latino que significa mayor . El término opuesto es junior. El DRAE recoge las formas con tilde y sin tilde de ambas palabras (senior y sénior, júnior y junior).[1] Puede referirse a: Contenido 1 En la actualidad …   Wikipedia Español

  • Senior — is Latin for elder. Senior can refer to: * A person of old age * A student in the last (usually fourth) year at a college or university * A student in the twelfth grade, in high school. Year 11 and 12 in Australia are called seniors * A suffix… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.