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
Possessing utility, commodities derive their exchangeable value from two sources: from their scarcityand from the labour required to obtain them.By far the greatest part of those goods which are the objects of desire, are procured by labour.David Ricardo
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 calculus of utility aims at supplying the ordinary wants of man at the least cost of labour.william stanley jevons
My principal work now lies in tracing out the exact nature and conditions of utility. It seems strange indeed that economists have not bestowed more minute attention on a subject which doubtless furnishes the true key to the problems of economics.william stanley jevons
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
To hinder, besides, the farmer from selling his goods at all times to the best market, is evidently to sacrifice the ordinary laws of justice to an idea of public utility, to a sort of reasons of state; an act of legislative authority which ought to be exercised only, which can be pardoned only in cases of the most urgent necessity.Adam Smith
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 utility, or intrinsic value of gold as a commodity is now considerably less than in the past; its monetary status has become extraordinarily ambiguous; and its future is highly uncertain.benjamin graham
In all determinations of morality, this circumstance of public utility is ever principally in view; and wherever disputes arise, either in philosophy or common life, concerning the bounds of duty, the question cannot, by any means, be decided with greater certainty, than by ascertaining, on any side, the true interests of mankind. If any false opinion, embraced from appearances, has been found to prevail; as soon as farther experience and sounder reasoning have given us juster notions of human affairs, we retract our first sentiment, and adjust anew the boundaries of moral good and evil.David Hume
Taking faith seriously leads to the utility of altruistic behavior.ted malloch
For enlightenment, anything which does not conform to the standard of calculability and utility must be viewed with suspicion.
The Plagiarism of orators is the art, or an ingenious and easy mode, which some adroitly employ to change, or disguise, all sorts of speeches of their own composition, or that of other authors, for their pleasure, or their utility; in such a manner that it becomes impossible even for the author himself to recognise his own work, his own genius, and his own style, so skilfully shall the whole be disguised.isaac d'israeli
[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?
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.
I trust in Nature for the stable laws Of beauty and utility. Spring shall plant And Autumn garner to the end of time. I trust in God the right shall be the right And other than the wrong, while he endures; I trust in my own soul, that can perceive The outward and the inward, Nature's good And God's.Robert Browning
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.