Economics Of Mahavira ► 11 ► [11.08] Mahavira and Economics - The Concept of Utility

Posted: 26.06.2006

It should not be our standard that we accept all that is useful. What is useful can be accepted, but it is not wise to accept all that is useful. What is useful today may not remain so tomorrow.

It could have an immediate utility but it might not have use for all times. We give more attention to immediate utility and not long-term benefit. All economists have given more attention to immediate benefits. It is likely that an article of consumption, which is not useful today, could be useful later. Let, us not, therefore, overlook the long-term benefits and accordingly evaluate the usefulness of the product.

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