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Although ridiculed for his imprecision, Bentham defended the felicific calculus by stating that it was a working hypothesis, not a mechanical procedure. He intended it to take the place of the doctrine of natural rights, which held that individuals had certain absolute moral claims. Modern books on public choice theory term this consequentialism, judging public action in terms of their practical consequences for everyone. Bentham declared that the utility of any law is to be measured by the extent to which it promotes the pleasure, good, and happiness of the people concerned.
In economics, he was a proponent of laissez faire, the theory that the state should not intervene in economic affairs. In Defence of Usury (1787) and Manual of Political Economy (1798) he contended that his principle of utility was best served by allowing every man to pursue his own interests unhindered by restrictive legislation.