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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.
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]
This is an incomplete list of advocates of utilitarianism and/or consequentialism This is a dynamic list and may never be able to satisfy particular standards for completeness. You can help by adding missing items with reliable sources .
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.
He defended a version of rule utilitarianism in "Toward a credible form of utilitarianism" (1963) and performed cultural-anthropological studies in Hopi Ethics (1954). In A Theory of the Good and the Right , [ 10 ] Brandt proposed a "reforming definition" of rationality , that one is rational if one's preferences are such that they survive ...
Two-level utilitarianism is a utilitarian theory of ethics according to which a person's moral decisions should be based on a set of moral rules, except in certain rare situations where it is more appropriate to engage in a 'critical' level of moral reasoning.
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.
Welfare economics is a field of economics that applies microeconomic techniques to evaluate the overall well-being (welfare) of a society. [1]The principles of welfare economics are often used to inform public economics, which focuses on the ways in which government intervention can improve social welfare.