공리주의와 수요의 법칙

Abstract

The traditional notion that the value of a commodity is determined by objective indicators, such as the amount of labor input, shifted with the advent of the Marginalism to a view where value is determined by individual subjective needs or desires. This paradigmatic shift, linked to the Utilitarianism, led to the principle of utility maximization—minimizing pain while maximizing pleasure. Marshall developed concept of demand, which had previously been considered a temporary factor disrupting market prices, into a central element driving the market price with supply. Thus, demand, through the Marginalism and Marshall's contributions, emerged as a core factor in economics. From this perspective, when examining market demand, it is reasonable to infer that the Utilitarianism has been applied to the utility maximization and that the mechanisms of demand reflect the Utilitarian principles in some form. To address this question, this paper reexamines the law of demand—where price and demand move inversely—and investigates how markets adjust demand accordingly. When redistribution is necessary, the market primarily regulates overall demand by either excluding or including economically disadvantaged individuals. This ensures that the utility-maximization strategy of the majority of consumers with sufficient incomes is maintained. Such mechanisms in market demand demonstrate a direct application of the Utilitarian principles.