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Utilitarianism According to John Stuart Mill
[Utilitarismus v podání Johna Stuarta Milla]

Author

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  • Martin Janíčko
  • Pavel Janíčko

Abstract

The article discusses utilitarianism in the form elaborated by John Stuart Mill. Although utilitarianism has been variously employed by philosophers and economists, Mill is the figure most closely associated with this theory. His ideas deeply influenced economists of the 20th century and continue to shape the postulates of contemporary economics and other social sciences. We demonstrate how seminal utilitarianism was to Mill's work, explore what influenced his thoughts on it, and place our analysis in the socioeconomic context of the time Mill was writing. We argue that utilitarianism has eclipsed Mill's other contributions to economics, yet is often oversimplified and has unjustly served as a platform for a more general critique of homo economicus.

Suggested Citation

  • Martin Janíčko & Pavel Janíčko, 2014. "Utilitarianism According to John Stuart Mill [Utilitarismus v podání Johna Stuarta Milla]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2014(6), pages 90-97.
    • Handle: RePEc:prg:jnlaop:v:2014:y:2014:i:6:id:461:p:90-97
    DOI: 10.18267/j.aop.461
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    More about this item

    Keywords

    utilitarianism; social sciences; laissez-faire; classical economics; hedonism; individualism;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General

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