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By I. M. D. Little

First released in 1950, this e-book was once focused on the exposition, feedback, and appreciation of the speculation of financial welfare because it have been built to that date. Now reissued, Little has additional a brand new retrospective preface during which he assesses the contribution the e-book made within the gentle of next literature within the quarter.

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E. consumers are assumed to be long-sighted enough to see and move to any peak higher than the one they are on. 2 In the diagram, it can be supposed that either AC or BC is the behaviour line of C: that is, the subject may have stated that all points above AC, or alternatively above BC, would be taken rather than C—and vice versa. If BC is the behaviour line of C, then B and C have a common behaviour line, while AC is the behaviour line of A, but not of C. If AC is the behaviour line of C, then A and C have a common behaviour line: while BC is the behaviour line of B, but not of C.

The general conclusions of utilitarian welfare theory were therefore inevitably tentative. It could never be definitely said that putting the 'optimum' conditions into operation would increase the welfare of the community. Perhaps this was not always sufficiently stressed. This completes our statement of the basic principles of utilitarian economics. We must now consider the main objections which have been brought against such a theory. First, it is said that satisfactions cannot be added. Therefore it is meaningless to speak of the happiness of the community as the sum total of the happinesses of individuals, and the happiness of individuals as the sum total of their satisfactions.

For instance, if a person is accused of being cross, he may deny it because he was not seeing red, nor did he have any feeling of constriction in the head, or whatever feeling it is that is associated with being cross. On second thoughts he may realize that he had spoken shortly, or in an irritated tone, and that he had frowned; he may, then, admit that he was cross. Suppose again that a person is asked whether he spent a happy day yesterday. He may reply with certainty, 'Yes', although he cannot recall any feelings of satisfaction or pleasure.

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