Utilitarianism
The philosophy of utilitarianism stresses the concept of how worthy an individual’s action is, to its effects in the overall contribution to others. To put it simply, it is the contribution to the happiness or pleasure of all the others among a group. This utility theory was dominantly promoted by Jeremy Bentham and John Stuart Mill during the nineteenth century. Although there are a lot of criticisms regarding this form of consequentialism, its application in the field of economics is still very viable and practical. It was originally coined, “the greatest good for the greatest number” which ensures equal distribution of supplies for a more stable condition of the economy.
the least misery to the least number