The pursuit of happiness has a venerable tradition in British political economy. Jeremy Bentham, the late 18th century founder of utilitarianism, defined it thus: “By the principle of utility is meant that principle which approves or disapproves of every action whatsoever, according to the tendency which it appears to have to augment or diminish the party whose interest is in question?.?.?.?if that party be the community in general, then the happiness of the community; if a particular individual then the happiness of that individual?.?.?.?The interest of the community then, is what? – the sum of the interest of the several members who compose it.”

This principle is not as obvious as it may sound. In Bentham’s time it was challenged by many rival principles; for instance, judging actions by their contribution to French glory or the furthering of the Prussian state. Nearer to home it was challenged by the Aristotelian eudemonia, which valued happiness only so far as it contributed to the philosophical idea of a good life.

Meanwhile Bentham’s followers worried about how to measure happiness, eventually interpreting it as the opportunity to satisfy desires as revealed by people’s choices in the marketplace or in voting. This did not satisfy the high-minded; but at least it set a high value on individual choice and did not seek to peer into men’s souls.