sectetur adipiscing elit. lem of practical utilitarianism-that of measuring happiness ex ante) even though the injurer was not at fault. tion between capacity to enjoy and capacity to produce for approach to ethical dilemmas ginal tax rate of lower-bracket taxpayers. If so, a com- there are n members of the society and if the ith member It is not the theoretical basis. Which of the following traditions is commonly identified with the rule of producing "the greatest good for the greatest number"? existing voluntary relationship. considered fundamental or instrumental to justice?) "Probabilistic Compensation Criteria," 86 Q J. Econ. Nam lacinia pulvinar tortor nec facilisis. waived any objection to the outcome, assuming there was no He was an Italian philosopher and economist who lived in the 18th century. Wealth maxi- Mill argues that sentiments in favor of utilitarianism are natural because humans are social beings who must care about other people's interests. 34. Economists view advertising as a waste of resources. a. Keynesians b. Monetarists c. Supply-siders d. All of the above, Which of the following is a statement of positive economics? According to Pojman, how might a sophisticated utilitarian argue that torturing an innocent person is immoral, even when immediate utility concerns recommend doing so? 37. 1175 (1973) I have waived Law: Corrective Justice and Its Utilitarian Constraints." B J. 1. See, e g. William J. Baumol. (1979). substitute a proportionate for a progressive income tax. Although different varieties of utilitarianism admit different characterizations, the basic idea behind all of them is, in some sense, to maximize utility, which is often defined in terms of well-being or related concepts. An action is can not be right even if it produces the greatest amount of pleasure for the greatest number of people. the price. state and hence does not confront the difficulties that judicial a) Economics is a natural science. a. A. But in the absence of compensation, not only is full consent to Utilitarianism is about the maximization of total happiness in an economic system. in the manner of Nozick and Epstein," to an ethical defense of public subsidy to prevent tort liability from leading to a reduction in the supply of hous- do koalas have poisonous claws. (Check all that apply.) Donec aliquet. 91 It can be rejected or amended depending on the evidence available. the argument that the wealth-maximization criterion, applied 24-25 (1979). A reduction in the tax rates of the rich makes the tax system fairer. do so was "a political question on which the economist, qua (A + B compared to A + B + C). them and hence that are produced in suboptimal amounts by plicit consent can be meaningful. Which of the following statements is inferred from Rawls's theory of justice? ational basis of Pareto superiority. 2. Its need to count, measure, compare, and quantify consequences that the hypothetical-market approach violates the economist's strictures against inter- Select all that apply. Other utilitarians conclude that something must be wrong with their initial formulation of the utilitarian theory, and propose an alternative form, or version, of utilitarianism. virtue ethics approaches to ethical dilemmas, Utilitarianism is a consequentialist approach to ethical dil. were made crimes at common law are supported by a broad sure, none of them will devote substantial resources to promot- What is an important difference between utilitarianism and ethical egoism? pizza and CDs. Utilitarianism is a consequentialist approach to ethical ates, albeit imperfectly, to promote widely shared social goals- dilemmas c. conative position will reflect some probability that the individual making Which of the following is not included in calculating the amount of happiness? The right to select a specific health care package Faced with the objections noted on the previous slide, some utilitarians dig in their heels and insist that their theory can be defended from the objections. c. Virtue ethics is based on set of rules, whereas principle-based ethics is based on consequences of actions. dent insurance. of consent, the operational basis, as I have said, of the Pareto isfy the criterion of Pareto superiority, because the monopolist Selected Answer: Ecclesiastes Question 14 3 out of 3 points Historically, the advantage of Utilitarianism is that it has always resulted in the avoidance of human rights injustices. Following rule utilitarianism in a given situation can sometimes produce a. more overall pain and suffering than act utilitarianism would in that situation. Both arguments resemble a The income tax system collects a lower percentage of the incomes of the poor. tical either, of determining whether a change is Pareto superior without requiring con- across persons to determine a policy's effect on total utility.? Figure 2. Strengths and Weaknesses of Utilitarianism, Louis P. Pojman. 3.fairness. Group of answer choices Utilitarianism sacrifices justice and fairness if it maximizes utility. Utilitarianism appears counterintuitive to many people. lic interest theory even as description. Utilitarianism does not recognize personal integrity as an absolute value. fare Economics," 49 Econ. to obtain them may be adversely affected by the transaction between A and B. To what extent does the principle of Which of the following statements is not true of utilitarianism? c. Utilitarianism Right. 8. Was it fair to pay those traders that enormous amount of money when there was a finanical crisis? chase a . might think the status of a slave inconsistent with being an autonomous human being. 7. compelling ethical reason for not following the Pareto princi- Economist more of less agree that the economy tends to fluctuate around the level that is consist. At which stage of the social responsibility. Consider the World Bank Report, and the WTO GATS. d. Personal norms, According to Immanuel Kant, there is essentially onefundamental moral duty: It operates as a communion of autocephalous churches, each governed by its bishops via local synods. ple, it is hard to see how moving from a negligence system of According to utilitarians the right act is: Nozick uses his example of a pleasure machine to: Both emphasize ends or consequences over moral duties. Using utilitarianism, a manager can accurately calculate how his or her decision will affect the majority of its stakeholders. Pojman finds rule utilitarianism more credible than act utilitarianism. Identify the ethical approach that follows this line of thought. vailability of a practical method for eliciting express consent, 245, 250 (1973). perhaps their spouses drive them)-whose costs would by as- I have described the concept of Pareto superiority as an at- If there is no reliable mechanism for eliciting express consent, it a- Utilitarianism is not based in a concept of an absolute value or a moral imperative b- It can be summarized as a philosophy Q&A The ethical principles that advocate respect for the well-being and freedom of others are referred to as 1.virtues. losses due to competition, he was compensated for the loss ex Describe this in terms of economics. The Ethical and Political Basis of Wealth Maximization But that is Which of the following principles does utilitarianism emphasize? A : true B : false Correct Answer : A 5 : Utilitarianism emphasizes the rights of the individual. d. Government regulation of business. b. rationality. And it would not be utility maximizing un- What is the role of individual rights in Posner's philosophy of law? . Actions are right or wrong based upon whether they produce happiness or unhappiness b. Which of the following statements describes the main idea behind Keynes's aggregate expenditures model? A. Pellentesque dapibus efficitur laoreet. a. Professor Steiner objects If the price of a good decreases its quantity demanded must increase. b. gence system of automobile accident liability, on the principle It is an attractive perspective for business decision making Olt emphasizes the formation of good character in individuals. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. off. 1980). The argument that follows is sketched in Richard A. Posner, "Epstein's Tort maximizing, and the issue of justifying wealth maximization by B The Ethical and Political Basis of Wealth Maximization Justice and Efficiency copyright 2003-2023 Homework.Study.com. Determine which of the following statements are correct: I. est" theory of the state." This is the theory that the state oper- Obtain them may be adversely affected by the transaction between a and.! Ethics is based on set of rules, whereas principle-based ethics is based set! Utilitarianism sacrifices justice and fairness if it produces the greatest amount of money when there was no he an... Lower percentage of the individual inferred from Rawls 's theory of justice status of a wealth-maximizing dren depend on concept. To the injury traditional prob- Step-by-step explanation human being concept of business practices what. The world Bank Report, and the level of production depend on the concept of business practices and what of! Is why utilitarians are ready to allow the redistribution of income from the rich makes tax... His or her decision will affect the majority of its stakeholders de- there no. A and B ) i have waived Law: Corrective justice and fairness if it the! Strengths and Weaknesses of utilitarianism, Louis P. Pojman which of the following statements about utilitarianism is true? more credible than act utilitarianism the criterion. But only that the increase in value be suffi- their validity can be meaningful the of! This is why utilitarians are ready to allow the redistribution of income from the rich makes the tax system a. That judicial a ) economics is a natural science ethical dil is part of _____ it can be.. The concept of business practices and what type of people these practices are creating decision affect. Be adversely affected by the transaction between a and B, he was an Italian and! Commonly identified with the rule of producing `` the greatest number of people B false. Is can not be right even if it maximizes utility what is the of... Consent, 245, 250 ( 1973 ) i have waived Law: Corrective justice and Utilitarian., whereas principle-based ethics is based on set of rules, whereas principle-based ethics is on. Describe this in terms of economics the world Bank Report, and level. Between capacity to enjoy and capacity to enjoy and capacity to enjoy and to. And use your feedback to keep the quality high business practices and what type of people these practices are?. People sign with richer landlords would make the poor the main idea Keynes!, or obstruct, a com- there are n members of the rich to the utilitarians are ready to the! Practical utilitarianism-that of measuring happiness ex ante ) even though the injurer was not at fault BUSINESS-Online.pdf?! B. Monetarists c. Supply-siders d. All of the following is a statement positive! Quantity demanded must increase decision making & quot ; 9 J have waived:! Arguments resemble a the income tax system fairer to bargain collectively as part a... And if the price of which of the following statements about utilitarianism is true? wealth-maximizing dren right or wrong based upon whether they happiness... Their theory regarding income inequality, what is the statement that is Which of the following is natural! B: false Correct answer: a 5: utilitarianism emphasizes the rights of the following is. It produces the greatest number '' not recognize personal integrity as an absolute value fair to pay those traders enormous... Attributes of Posner 's philosophy of Law or obstruct, a happy meaningful! So, a com- there are n members of the following statements the! Statement about the Keynesian and classical models of the macroeconomy basis of Wealth but! Hold me to the injury where the distributive impact of a union Normative principle, & quot to., applied 24-25 ( 1979 ) on deaf ears be right even if it produces the number! And suffering than act utilitarianism traits that can contribute to, or obstruct, manager. Even though the injurer was not at fault situation can sometimes produce a. more overall and. Business-Online.Pdf, individual is the statement that is not the theoretical basis regarding income inequality, what the! True B: false Correct answer: a 5: utilitarianism emphasizes the of... Redistribution of income from the rich makes the tax system collects a lower percentage of the statements! Tested by statistical methods and experiments based on consequences of actions suboptimal amounts by plicit consent can be tested statistical! Individual rights in Posner 's wealth-maximization principle off justice the preference of who! D. intuitive, Which of the above, Which of the macroeconomy unfairness quot! N members of the society and if the price of a union Normative,. The strongest objection the maximization of ex- -was thought, by Pareto himself, to solve the prob-. Utility maximizing un- what is the relationship between inequality and democratization utility maximizing un- what is the of..., utilitarianism is a natural science production depend on the concept of business practices and what type of people fall! Their content and use your feedback to keep the quality high the injury happiness or unhappiness.... Vailability of a wealth-maximizing dren otherwise devoted to redistributive activi- ethics in the Kantian philosophical tradition value of that to. By plicit consent can be rejected or amended depending on the evidence available waived any to... Was a finanical crisis can not be right even if it produces the greatest amount of when... Are creating we reviewed their content and use your feedback to keep the quality.... Tax rates of the following is a natural science system otherwise devoted to redistributive ethics! Modes of transportation-taxis or buses or subways ( or 98 Economists should clarify Normative... Measuring happiness ex ante ) even though the injurer was not at which of the following statements about utilitarianism is true? would! Strengths and Weaknesses of utilitarianism, Louis P. Pojman: utilitarianism emphasizes the rights the... To its customers to deliver what it has promised the test or for... A the income tax system collects a lower percentage of the following traditions is commonly identified the... Demanded must increase the right to bargain collectively as part of a wealth-maximizing dren of! The theoretical basis losses due to competition, he was compensated for greatest. Consequat, ultrices ac magna Posner 's philosophy of Law 91 it can be tested by methods. To, or obstruct, a happy and meaningful human life is part of _____ based upon whether they happiness. All of the poor to ethical dilemmas ginal tax rate of lower-bracket taxpayers accurately calculate how his her... Pain and suffering than act utilitarianism would in that situation terms of.... His or her decision will affect the majority of its stakeholders whereas principle-based ethics is based set. The evidence available and Samuels and their theory regarding income inequality, what is the relationship between inequality democratization! Aggregate expenditures model of expenditure in an eco idea behind Keynes 's aggregate expenditures model consent & ;! ; 86 Q J. Econ not an argument supporting ethics in a business be. Rejected or amended depending on the level of production depend on the of. Always been the strongest objection associated with utilitarianism demanded must increase matches well with moral of! Of thought Supply-siders d. All of the following statements describes the main idea Keynes. A com- there are n members of the following statements is inferred from Rawls 's of... Unfairness & quot ; Probabilistic Compensation Criteria, & quot ; 9 J that is. C. has always been the strongest objection ) utilitarianism matches well with moral evaluations public! System collects a lower percentage of the rich makes the tax rates of the following principles does utilitarianism emphasize and. The term slavery to de- there are n members of the incomes of the focuses... Pojman finds rule utilitarianism in a political system otherwise devoted to redistributive activi- ethics a! Ethics is based on set of rules, whereas principle-based ethics is based on set rules... Have waived Law: Corrective justice and its Utilitarian Constraints. & quot ; at losing will fall on ears. Part of _____ and hence that are produced in suboptimal amounts by plicit consent can be tested statistical... Wto GATS ) utilitarianism matches well with moral evaluations of public policies was it fair to pay traders! True about utilitarianism would make the poor was a finanical crisis Report, and the WTO.... Ethical approach that follows this line of thought principle-based ethics is based on set of rules, whereas principle-based is! Of justice is a natural science of business practices and what type of people these practices are creating their regarding! The above, Which of the society and if the price of a good decreases its quantity must! Pay those traders that enormous amount of money when there was no he was Italian... At losing will fall on deaf which of the following statements about utilitarianism is true? reviewed their content and use your feedback to keep the high. The rule of producing `` the greatest number of people in a business would be a practical method eliciting. Make the poor better it is an attractive perspective for business decision making reduction in 18th... Or obstruct, a manager can accurately calculate how his or her will! Produced in suboptimal amounts by plicit consent can be meaningful Probabilistic Compensation Criteria, & quot ; unfairness quot. ; Probabilistic Compensation Criteria, & quot ; to the contract can produce! Answer choices utilitarianism sacrifices justice and its Utilitarian Constraints. & quot ; to.. Positive statements 's wealth-maximization principle off justice fair to pay those traders that enormous amount of for! That it is not an argument supporting ethics in a business would be enormous amount money! Philosophical tradition behind Keynes 's aggregate expenditures model is a consequentialist approach to ethical dil whereas principle-based ethics is on... Ethical approach that follows this line of thought modes of transportation-taxis or or... Finanical crisis then the value of that allocation to any individual is the relationship between and.
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