Ofelimità and Its Impact in Economy and Society
Keywords:ofelimità, utilitarism, hierarchy of needs, satisfaction, functionality
The concept was introduced by Vilfredo F. D. Pareto, a leading representative of the Lausanne School of Economic thought. Ophelimity comes from Greek, meaning something useful, advantageous for people. And in these challenging and bad days, it is a good landmark to refer to.
The term is the expression of the ordinal preference-ranking indicator of the utility. That is, the setting of preferences in a certain order and the purchase of the goods/services depending on the intensity and urgency of the needs, now and on short-run.
Therefore, using a survey of the literature in the field, we can deduce the tendencies of the human life and social-economic activities on short-run and, even, on medium-run, altogether with the elements of the Maslow Hierarchy Needs.
The term utility of goods and services, even ophelimity is necessary towards regaining the basic needs of people and the re-birth of economies and of social life.
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