25.1 – Introduction to Challenging the Role of Utilitarianism

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Value and Utility. The concept of value is neatly wrapped up in orthodox economics by the concept of utility, but is that approach adequate? This chapter will explore the utility concept as well as alternative ways of thinking about value. (Image source: mohamed mahmoud hassa, publicdomainpictures.net, CC0)

Chapter Objectives

In this chapter, you will learn about:

  • Value Theory in Economics
  • Value as it is Defined by Orthodox Economics
  • The Relationship between Utilitarian Philosophy and the Economics discipline.
  • Critique of the Utilitarian Approach.
  • The Application in Economics of Philosophies other than Utilitarianism.

 

License

25.1 - Introduction to Challenging the Role of Utilitarianism Copyright © by Erik Dean; Justin Elardo; Mitch Green; Benjamin Wilson; Sebastian Berger; Richard Dadzie; and Adapted from OpenStax Principles of Economics. All Rights Reserved.

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