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Utilitarianism

Utilitarianism is an ethical theory that suggests that the best action or policy is the one that maximizes overall happiness or "utility." It is based on the principle of the greatest good for the greatest number of people.In economic or financial contexts, utilitarianism may influence decision-making processes where the focus is on policies or investments that aim to benefit the majority of stakeholders or society as a whole, often at the expense of individual interests.

Example

A government decision to raise taxes on high-income individuals to fund healthcare for the general population could be justified under utilitarianism, as it seeks to maximize the welfare of the majority.

Key points

• An ethical theory focused on maximizing happiness or utility for the greatest number of people.

• Often applied in policy or decision-making that benefits society over individuals.

• A central concept in moral philosophy and public policy debates.

Quick Answers to Curious Questions

Utilitarianism is used to guide decisions that aim to maximize overall social welfare, such as policies that benefit the majority even if they negatively impact a few.

It can justify actions that harm individuals or minority groups if those actions are perceived to benefit the majority, potentially leading to ethical dilemmas.

Utilitarianism focuses on outcomes and the overall happiness of society, whereas other theories, like deontology, emphasize duty and the morality of actions themselves.