Philosophy of happiness person. He continues by acknowledging that one must be allowed a private sphere of life to realize those particular attempts of happiness without the interference of society. Jeremy Bentham (1748-1832) was a British philosopher, jurist, and social reformer. He is regarded as the founder of modern utilitarianism. His particular brand of utilitarianism indicated that the most moral action is that which causes the highest amount of utility, where defined utility as the aggregate pleasure after deducting suffering of all involved in any action. Happiness, therefore, is the experience of pleasure and the lack of pain. Actions which do not promote
Schools of economic thought what is termed the modern era. Currently, the great majority of economists follow an approach referred to as mainstream economics (sometimes called 'orthodox economics'). Within the mainstream in the United States, distinctions can be made between the Saltwater school (associated with Cornell, Berkeley, Harvard, MIT, Pennsylvania, Princeton, and Yale), and the more laissez-faire ideas of the Freshwater school (represented by the Chicago school of economics, Carnegie Mellon University, the University of Rochester and the University of Minnesota). Both of these schools of thought are associated with the neoclassical synthesis. Some influential approaches of the past, such as the historical school