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.
More Quotes from Nassau William Senior:
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.Nassau William Senior
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.
Nassau William Senior
That, agricultural skill remaining the same, additional labour employed on the land within a given district, produces a less proportionate return.
Nassau William Senior
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.
Nassau William Senior
The first, or theoretic branch, that which explains the nature, production, and distribution of wealth, will be found to rest on a very few general propositions, which are the result of observation, or consciousness.
Nassau William Senior
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