Ofelimità and Its Impact in Economy and Society

Authors

  • Alexandru TRIFU Petre Andrei University of Iasi, Romania

Keywords:

ofelimità, utilitarism, hierarchy of needs, satisfaction, functionality

Abstract

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.

Author Biography

Alexandru TRIFU, Petre Andrei University of Iasi, Romania

Professor Ph. D., “Petre Andrei” University of Iasi, Romania

References

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Published

2020-12-21

How to Cite

TRIFU, A. (2020). Ofelimità and Its Impact in Economy and Society . Anuarul Universitatii "Petre Andrei" Din Iasi - Fascicula: Drept, Stiinte Economice, Stiinte Politice, 26, 227-233. Retrieved from https://lumenpublishing.com/journals/index.php/upa-sw/article/view/4071

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