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A hypothetical Christian form of government in which society is ruled by divine law. [60] Theonomists hold that divine law, particularly the judicial laws of the Old Testament, should be observed by modern societies. [61] The chief architects of the movement are Gary North, Greg Bahnsen, and R.J. Rushdoony. [62] Magocracy
In social choice and operations research, the utilitarian rule (also called the max-sum rule) is a rule saying that, among all possible alternatives, society should pick the alternative which maximizes the sum of the utilities of all individuals in society.
Benthamism, the utilitarian philosophy founded by Jeremy Bentham, was substantially modified by his successor John Stuart Mill, who popularized the term utilitarianism. [3] In 1861, Mill acknowledged in a footnote that, though Bentham believed "himself to be the first person who brought the word 'utilitarian' into use, he did not invent it.
The government agent stands to benefit from support from the party seeking influence, while that party seeks to benefit by implementing public policy that benefits them. This essentially results in the capture and reallocation of benefits, wasting the benefit and any resources used from being put to productive use in society.
The max-min welfare function can be seen as reflecting an extreme form of uncertainty aversion on the part of society as a whole, since it is concerned only with the worst conditions that a member of society could face. Amartya Sen proposed a welfare function in 1973: = ¯ ()
Utilitarianism is a consequentialist ethical theory, meaning that it holds that acts are justified insofar as they produce a desirable outcome. The overarching goal of utilitarianism—the ideal consequence—is to achieve the "greatest good for the greatest number as the result of human action". [82]
The public interest theory of regulation claims that government regulation acts to protect and benefit the public. [1] The public interest is "the welfare or well-being of the general public" and society. [2] Regulation in this context means the employment of legal instruments (laws and rules) for the implementation of policy objectives.
This is a non-exhaustive world-wide list of government-owned companies. The paragraph that follows was paraphrased from a 1996 GAO report which investigated only the 20th-century American experience. The GAO report did not consider the potential use in the international forum of SOEs as extensions of a nation's foreign policy utensils.