Visit to the usa for He explained that since all the profits of cotton mills were produced in the last hour, a reduction of the working day would be devastating, with manufacturers being forced out of business. Unfortunately for Senior, this assertion that the last hour was so profitable was incorrect, and consequently he was severely criticized by his contemporaries and later famously ridiculed by Karl MARX. However, it should be said that Senior was philosophically consistent, even to the extent of defending brutally long working hours. His argument was fallacious, but his position was sound. Senior’s influence primarily comes from his theory of abstinence, which was later taken up by the much more well-known English economists John Stuart MILL and Alfred MARSHALL. However, he can be considered representative of early to mid-19th-century English political economy, as his writings on both theory and policy exemplified the prevailing dominant views on economics. Senior, Nassau 749 BIBLIOGRAPHY. Visit to the usa 2016.
Visit to the usa Photo Gallery
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