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Actually, the logarithmic utility of money was introduced by one of the Bernoullis in the mid-1700's, several decades before Jeremy Bentham called his philosophy "utilitarianism". I think utilitarianism was, in fact, an attempt at "rationalising" ethics and the philosophy was always an attempt at doing what the modern mathematical theory of utility does.

Those whom the Gods wish to destroy They first make mad. -- Euripides
by Migeru (migeru at eurotrib dot com) on Fri Oct 20th, 2006 at 09:53:56 AM EST
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