From ethics to economics:F.Y. Edgeworth, 1845–1926
Family and early years Ysidro Francis Edgeworth’s grandfather, Richard, was a utilitarian, following the philosopher Bentham in believing that sensory pleasure and pain are everything and that morally correct actions maximise a population’s happiness, defined as aggregate pleasure minus pain. The moral code should be deduced from this maximisation principle and not from ‘truths’ … Read more