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

By Nassau W. Senior

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

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M'Culloch has appended to his edition of the Wealth of Nations, one of the most interesting treats of population; and one of the objects of that note is to show that the population of the United States of America cannot continue to increase for any very considerable period at the rate at which it has increased during the last hundred years. We are perfectly convinced of the correctness of this anticipation; and we make the following extract not with any intention to oppose Mr. M'Culloch's opinions as to America, but because we are anxious to express our dissent to the form in which he lays down the general doctrine of population.

They seem in a constant oscillation between the want endured by a population that has increased to the utmost limits of subsistence, and the plenty enjoyed by the survivors after that population has been thinned by war, pestilence, or famine. The remainder of the positive checks, such as infanticide and unwholesomeness of climate, habits, or situation, appear rather to facilitate 34 POPULATION early marriages than to produce any actual diminution, or prevent any actual increase of population. Infanticide has been supposed to be rather favourable to population, by opposing to the prudential check to marriage a mode of disposing of its offspring, which may appear easy in contemplation, but from which the feelings of the parents eventually recoil.

The fuel, shelter, and raiment, which are essential to a Laplander's existence, would be worse than useless under the Tropics. And as habits and occupations are very slowly changed, and climate suffers scarcely any alteration, the commodities which are necessary to the different classes of the inhabitants of a given district may, and generally do, remain for centuries unchanged, while their decencies and luxuries are continually varying. Among all classes the check imposed by an apprehended deficiency of mere luxuries is but slight.

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