Felicific calculus Felicific calculus The felicific calculus is an algorithm formulated by utilitarian philosopher Jeremy Bentham (1748–1832) for calculating the degree or amount of pleasure that a specific action is likely to cause. Bentham, an ethical hedonist, believed the moral rightness or wrongness of an action to be a function of the amount of pleasure or pain that it produced. The felicific calculus could, in principle at least, determine the moral status of any considered act. The algorithm is also known as the utility calculus, the hedonistic calculus and the hedonic calculus. To be included in this calculation are several variables (or
History of economic thought theory. John Stuart Mill (1806–1873) was the dominant figure of political economic thought of his time, as well as a Member of parliament for the seat of Westminster, and a leading political philosopher. Mill was a child prodigy, reading Ancient Greek from the age of 3, and being vigorously schooled by his father James Mill. Jeremy Bentham was a close mentor and family friend, and Mill was heavily influenced by David Ricardo. Mill's textbook, first published in 1848 and titled "Principles of Political Economy" was essentially a summary of the economic thought of the mid-nineteenth century. "Principles of Political Economy"