Economics Of Mahavira ► 09 ► [09.18] Livelihood with Religion. Limits to Desires - The Viewpoint of Economics

Posted: 20.05.2006

In Economics, the definition of utility is different from that in Ethics. According to Ethics, there is no association between utility and its benefit. A commodity satisfying a want, even though not beneficial, possesses utility. Drinking alcohol is definitely harmful, but alcohol consumed by a person possesses utility. The person who drinks experiences the need for alcohol and satisfies his need.

Dr. Robbins has expressed the opinion that several subjects in Economics are studied, which do not have even remote relationship with human welfare. Drinking alcohol does not increase the welfare and happiness of a person. On the other hand, there is the possibility of its diminution. Even then, alcoholic industry is a subject for study by economists because production of alcohol is an economic activity and many people earn their living out of this industry.

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