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Utilitarianism is an 1861 essay written by English philosopher and economist John Stuart Mill, considered to be a classic exposition and defense of utilitarianism in ethics. It was originally published as a series of three separate articles in Fraser's Magazine in 1861 before it was collected and reprinted as a single work in 1863. [ 1 ]
In the process of new business model generation, the business model innovator can use one or more of these patterns to creating a new business model. Each of these patterns has similarities in characteristics, business model building blocks arrangements and behaviors. Alexander Osterwalder call these similarities the "business model pattern ...
An Introduction to the Principles of Morals and Legislation is a book by the English philosopher and legal theorist Jeremy Bentham "originally printed in 1780, and first published in 1789." [ 1 ] Bentham's "most important theoretical work," [ 2 ] it is where Bentham develops his theory of utilitarianism and is the first major book on the topic.
In ethical philosophy, utilitarianism is a family of normative ethical theories that prescribe actions that maximize happiness and well-being for the affected individuals. [1] [2] In other words, utilitarian ideas encourage actions that lead to the greatest good for the greatest number.
Two-level utilitarianism is virtually a synthesis of the opposing doctrines of act utilitarianism and rule utilitarianism. Act utilitarianism states that in all cases the morally right action is the one which produces the most well-being, whereas rule utilitarianism states that the morally right action is the one that is in accordance with a ...
Lexical threshold" negative utilitarianism says that there is some disutility, for instance some extreme suffering, such that no positive utility can counterbalance it. [22] 'Consent-based' negative utilitarianism is a specification of lexical threshold negative utilitarianism, which specifies where the threshold should be located.
Friedman introduced the theory in a 1970 essay for The New York Times titled "A Friedman Doctrine: The Social Responsibility of Business is to Increase Its Profits". [2] In it, he argued that a company has no social responsibility to the public or society; its only responsibility is to its shareholders. [2]
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper. [citation needed]