Economists once believed utility could be measured. This school of thought, known as utilitarianism, was developed by the English philosopher

Name: Economists once believed utility could be measured. This school of thought, known as utilitarianism, was developed by the English philosopher
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Utilitarianism was developed by the English philosopher Jeremy Bentham, who believed that individuals can measure their own pleasure and pain to maximize their overall happiness or utility.

Economists Once Believed Utility Could Be Measured