The Ambiguity of "Utility"

[Charles M.]

The term plays an important role in both philosophy and economics. In philosophy, it is associated with Jeremy Bentham and utilitarianism; in that context utility means, roughly, happiness. In Bentham's view, one ought to act so as to maximize the total of human utility, misleadingly described as "the greatest good for the greatest number."  Read more...

[Paul Birch]

It's a little misleading, I think, to label one aspect of utility philosophical and the other economic; both philosophers and economists are well aware of the ambiguity; still, the most common usages are as Friedman implies.