The founders of neoclassical economics built on the philosophy of Jeremy Bentham who asserted that, "nature has placed mankind under the governance of two sovereign masters . . ." What "sovereign masters" was he referring to?
A) utility and pleasure
B) pain and suffering
C) pain and pleasure
D) hunger and thirst

Question

Quizplus · Accepted Answer

Jeremy Bentham believed that the two sovereign masters which govern mankind are pain and pleasure, not utility or any other factors. He argued that individuals always seek pleasure and avoid pain, hence the foundation of the ethical principle of utilitarianism.

The Founders of Neoclassical Economics Built on the Philosophy of Jeremy