Jules Dupuit

Jules Dupuit was a French engineer and economist in the 19th century known for his contributions to welfare economics and public goods theory. He introduced the concept of “consumer surplus,” which measures the benefit consumers receive when they pay less for a product than what they are willing to pay. Dupuit's work laid the groundwork for understanding how public services, like roads and bridges, should be financed and managed, emphasizing the importance of maximizing social welfare. His ideas continue to influence economic policy and public finance today.