Quote
"The utility of many useful things is not at first very manifest, — as poetry, for instance. Yet its uses are as many and as sweet as those of adversity. When the first kettle boiled, who imagined the manifold uses of steam?"
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UtilityUtility
Utility
In economics, utility is a measure of a certain person's satisfaction from a certain state of the world. Over time, the term has been used with at least two meanings.In a normative context, utility refers to a goal or objective that we wish to maximize, i.e., an objective function. This kind of utility bears a closer resemblance to the original utilitarian concept, developed by moral philosophers
"The utility of many useful things is not at first very manifest, — as poetry, for instance. Yet its uses are as many and as sweet as those of adversity. When the first kettle boiled, who imagined the manifold uses of steam?"
"Utility then is not the measure of exchangeable value, although it is absolutely essential to it."
"Thus public works even of doubtful utility may pay for themselves over and over again at a time of severe unemployment, if only from the diminished cost of relief expenditure."