The ethical theory of John Stuart Mill (1806-1873) is most fully expressed in his classic text Utilitarianism (1861). Its goal is to justify the principle of utility as the foundation of morality. This principle states that an action is correct insofar as it tends to promote general human well-being.
The Utility or Maximum Happiness Principle states that an action is right insofar as it tends to promote happiness, and wrong insofar as it tends to produce the opposite of happiness. Happiness means lack of pleasure and pain. Through unhappiness, pain and joy deprivation.
Utility Principle – “Actions are proportionately right because they tend to promote happiness. Wrong because they tend to produce the exact opposite of happiness.” – Central to Mill's ethical philosophy
John Stuart Mill was one of the most important thinkers of the 19th century. He wrote on logic, economics, political philosophy, and religion. His work Utilitarianism offers a mindset that promises to maximize happiness for those who practice it.
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Demand curve shows what the current society needs with respect
to the supply required. The supply, ideally, must be greater than the demand
needed, however, unfortunately, demand is greater than supply nowadays, that is
why we have scarcity of resources.
