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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.
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]
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]
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 .
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.
A social choice rule is a mechanism which uses the data () to select some element(s) from which are "best" for society (the question of what "best" means is the basic problem of social choice theory). The utilitarian rule selects an element which maximizes the utilitarian sum
Utility maximization was first developed by utilitarian philosophers Jeremy Bentham and John Stuart Mill. In microeconomics, the utility maximization problem is the problem consumers face: "How should I spend my money in order to maximize my utility?" It is a type of optimal decision problem.
Weak rule utilitarianism (WRU) attempts to handle SRU counterexamples as legitimate exceptions. One such response is two-level utilitarianism; more systematic WRUs attempt to create sub-rules to handle the exceptions. But as David Lyons [4] and others have argued, this will necessarily tend to collapse into act utilitarianism. Rules will ...