Labour once spent has no influence on the future value of any article; it is gone and lost for ever. In commerce bygones are forever bygones; and we are always starting clear at each moment, judging the values of things with a view to future utility.
Economists tell us that the 'price' of an object and its 'value' have very little or nothing to do with one another. 'Value' is entirely subjective economic value, anyway while 'price' reflects whatever a buyer is willing to give up to get the object in question, and whatever the seller is willing to accept to give it up. Both are governed by the Law of Marginal utility, which is actually a law of psychology, rather than economics. For government to attempt to dictate a 'fair price' betrays complete misunderstanding of the entire process.l. neil smith
To what shall the character of utility be ascribed, if not to that which is a source of pleasure?jeremy bentham
Judges of elegance and taste consider themselves as benefactors to the human race, whilst they are really only the interrupters of their pleasure ... There is no taste which deserves the epithet good, unless it be the taste for such employments which, to the pleasure actually produced by them, conjoin some contingent or future utility: there is no taste which deserves to be characterized as bad, unless it be a taste for some occupation which has mischievous tendency.jeremy bentham
The principle of utility judges any action to be right by the tendency it appears to have to augment or diminish the happiness of the party whose interests are in question... if that party be the community the happiness of the community, if a particular individual, the happiness of that individual.jeremy bentham
The difficulties of economics are mainly the difficulties of conceiving clearly and fully the conditions of utility.william stanley jevons
This new form of communication could have some utility.guglielmo marconi
Bernoulli's real contribution was to coin a word. The word has been translated into English as "utility". It describes this subjective value people place on money.william poundstone
Most people, even in simple risky situations, don't behave the way the theory of utility would have them behave.howard raiffa
Where the world comes in my way — and it comes in my way everywhere — I consume it to quiet the hunger of my egoism. For me you are nothing but — my food, even as I too am fed upon and turned to use by you. We have only one relation to each other, that of usableness, of utility, of use.max stirner
Concerning the utility of Rhetoric, it is to be observed that it divides itself into two; first, whether Oratorical skill be, on the whole, a public benefit, or evil; and secondly, whether any artificial system of Rules is conducive to the attainment of that skill.Richard Whately
[The theory of the firm] is exactly analogous to the analysis of the reactions of a consumer by means of indifferent curves. Indeed, a consumer is merely a ‘firm’ whose product is ‘utility’.kenneth boulding
Taking faith seriously leads to the utility of altruistic behavior.ted malloch
The nineteenth century, utilitarian throughout, set up a utilitarian interpretation of the phenomenon of life which has come down to us and may still be considered as the commonplace of everyday thinking. ... An innate blindness seems to have closed the eyes of this epoch to all but those facts which show life as a phenomenon of utilityjosé ortega y gasset
These are, of course, some things which, for utility's sake, must be made of the same size in a small theatre, and a large one: such as the steps, curved cross-aisles, their parapets, the passages, stairways, stages, tribunals, and any other things which occur that make it necessary to give up symmetry so as not to interfere with utility.vitruvius
[The decisionmaking role of the firm has progressed from the neoclassical standpoint of profit maximization to sales maximization, utility maximization, and satisficing. From the Operation Research point of view] ...the ideal picture is that someone, presumable the firm that hires the operations researcher, hands him, on a silver platter, an objective function. By talking to the engineers, or by looking into a few scientific laws, he determines the policy alternatives available and also the model
The laws of [false utility] are those which forbid to wear arms, disarming those only who are not disposed to commit the crime which the laws mean to prevent. Can it be supposed, that those who have the courage to violate the most sacred laws of humanity, and the most important of the code, will respect the less considerable and arbitrary injunctions, the violation of which is so easy, and of so little comparative importance? Does not the execution of this law deprive the subject of that personal liberty, so dear to mankind and to the wise legislator?
I think we ought to adhere to those ancient forms which have been perfected by the wisdom of ages and confirmed in their utility by the experience of many centuries.
The limitation of suits is founded in public convenience; and attended with so much utility, that Courts of Equity adopt this Statute as a positive rule, and apply it, by parity of reason, to cases not within it.
The Great War differed from all ancient wars in the immense power of the combatants and their fearful agencies of destruction, and from all modern wars in the utter ruthlessness with which it was fought. ... Europe and large parts of Asia and Africa became one vast battlefield on which after years of struggle not armies but nations broke and ran. When all was over, Torture and Cannibalism were the only two expedients that the civilized, scientific, Christian States had been able to deny themselves: and they were of doubtful utility.
utility is the emotion pleading to be let into the house of pure reason and thereby enriching it.dennis lindley
utility then is not the measure of exchangeable value, although it is absolutely essential to it.David Ricardo
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