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
Jeremy Bentham the "spiritual founder" of UCL. However, he played only a limited direct part in its foundation. Bentham was born in Houndsditch, London, to a wealthy family that supported the Tory party. He was reportedly a child prodigy: he was found as a toddler sitting at his father's desk reading a multi-volume history of England, and he began to study Latin at the age of three. He learnt to play the violin and at the age of seven, Bentham would perform sonatas by Handel during dinner parties. He had one surviving sibling, Samuel Bentham, with whom he was close. He attended