Jeremy Bentham to the fundamental concepts employed in his model of utilitarian decision making. His work is considered to be an early precursor of modern welfare economics. Bentham stated that pleasures and pains can be ranked according to their value or "dimension" such as intensity, duration, certainty of a pleasure or a pain. He was concerned with maxima and minima of pleasures and pains; and they set a precedent for the future employment of the maximisation principle in the economics of the consumer, the firm and the search for an optimum in welfare economics. Bentham advocated "Pauper Management" which involved the creation
Meaning of life back as far as Epicurus, but, as a school of thought, it is credited to Jeremy Bentham, who found that "nature has placed mankind under the governance of two sovereign masters, pain and pleasure", then, from that moral insight, deriving the "Rule of Utility": "that the good is whatever brings the greatest happiness to the greatest number of people". He defined the meaning of life as the "greatest happiness principle". Jeremy Bentham's foremost proponent was James Mill, a significant philosopher in his day, and father of John Stuart Mill. The younger Mill was educated per Bentham's principles, including transcribing and