Question

Welfare is improved when 'the greatest good is secured for the greatest number'. This argument is put forward by:

• A. John Hicks
• B. Nicholas Kaldor
• C. Jeremy Benthem
• D. Alfred Marshal

Answer 1

Answer:

C. Jeremy Benthem

• Utilitarianism: The principle stating that the best action is the one that maximizes utility, often defined as the greatest good for the greatest number, serves as the cornerstone of Utilitarianism.
• Philosophical Origin: Jeremy Bentham (1748–1832) is widely recognized as the founder of modern utilitarianism. He introduced this ethical framework to evaluate laws, policies, and social institutions based on their ability to produce happiness or pleasure.
• The Hedonic Calculus: Bentham developed the Hedonic Calculus, a method for measuring the intensity, duration, certainty, and extent of pleasure or pain caused by an action. This approach sought to quantify human welfare scientifically.
• Key Contributions: Bentham emphasized that the goal of legislation and government policy should be the optimization of overall social welfare. His work, An Introduction to the Principles of Morals and Legislation (1789), provides the formal articulation of these ideas.
• Influence on Economics: Bentham's ideas laid the groundwork for Welfare Economics. His focus on the collective satisfaction of individuals significantly influenced later economists, including John Stuart Mill, who further refined utilitarian thought, and Vilfredo Pareto, whose work on efficiency evolved from these core concepts.
• Significance in Governance: This philosophy shifted the focus of political and economic theory from abstract rights to empirical outcomes, prioritizing tangible improvements in the living standards and well-being of the population.