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According to Harsanyi, "preference utilitarianism is the only form of utilitarianism consistent with the important philosophical principle of preference autonomy. By this I mean the principle that, in deciding what is good and what is bad for a given individual, the ultimate criterion can only be his own wants and his own preferences." [62]: 55
In contrast to enlightened self-interest is simple greed, or the concept of "unenlightened self-interest", in which it is argued that when most or all persons act according to their own myopic selfishness, the group suffers loss as a result of conflict, decreased efficiency and productivity because of lack of cooperation, and the increased expense each individual pays for the protection of ...
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.
According to Aristotle, how to lead a good life is one of the central questions of ethics. [1]Ethics, also called moral philosophy, is the study of moral phenomena. It is one of the main branches of philosophy and investigates the nature of morality and the principles that govern the moral evaluation of conduct, character traits, and institutions.
Utilitarianism was revised and expanded by Bentham's student John Stuart Mill, who sharply criticised Bentham's view of human nature, which failed to recognise conscience as a human motive. Mill considered Bentham's view "to have done and to be doing very serious evil."
The principle of equal consideration of interests is a moral principle that states that one should both include all affected interests when calculating the rightness of an action and weigh those interests equally. [1]
That is, if people generally experience more happiness following action X than they do action Y, the utilitarian should conclude that action X produces more utility than action Y, and so is to be preferred. [81] Utilitarianism is a consequentialist ethical theory, meaning that it holds that acts are justified insofar as they produce a desirable ...
Act utilitarianism is a utilitarian theory of ethics that states that a person's act is morally right if and only if it produces the best possible results in that specific situation. Classical utilitarians, including Jeremy Bentham , John Stuart Mill , and Henry Sidgwick , define happiness as pleasure and the absence of pain.