Senior, Nassau William

Senior, Nassau WilliamNassau William Senior

1790-1864

Nassau William Senior was a British economist, educated at Oxford where he twice held the post of Drummond Professor of Political Economy. Senior’s most important book was Outline of the Science of Political Economy (1836). He is best remembered for his abstinence theory of interest in which interest is a payment, rewarding the investor for refraining to use his savings unproductively.