Nineteenth century English economist
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  • Nassau William Senior

    Nassau William Senior (26 September 1790 - 4 June 1864), was an English lawyer known as an economist. He was also a government adviser over several decades on economic and social policy on which he wrote extensively.

    Reference

    Senior, Nassau William (1790-1864), by George H. Smith, The Encyclopedia of Libertarianism, 15 Aug 2008
    Biographical essay
    "Nassau William Senior was a noted economist who also held several government commissions. ... Senior defined political economy as the science that investigates the nature, production, and distribution of wealth. He employs the term wealth as a synonym for value, and, like the economists before him, includes utility as one of the three causes of value. ... Senior is widely regarded as one of the forerunners of marginal utility theory. The satisfaction that we derive from a class of goods, he maintained, “diminishes in a rapidly increasing ratio” as the supply of those goods increases. "
    Related Topic: Economics

    Born

    26 Sep 1790, in Compton, Berkshire, England

    Died

    4 Jun 1864, in Kensington, London

    Biography

    Nassau William Senior, 1790-1864
    The History of Economic Thought, The New School for Social Research

    Bibliography

    Collected Works of Nassau William Senior, by Donald Rutherford, 1998
    Includes biography and extensive introduction

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