Subscribe to Elucidations: Episode transcript here. This month, we’re joined by Tyler Cowen (Professor of Economics at George Mason University), to talk about utilitarianism, economic growth, and the future. Click here to download the episode.
Utilitarianism is the name we give a family of normative ethical theories, most of which are variations on the idea that doing the right thing involves imparting the greatest amount of benefit to the greatest number of people. How do I tell whether policy XYZ is the right policy to adopt? Simple! Numerically measure the amount of happiness that policy is going to cause, add all of it up, numerically measure the amount of suffering that policy is going to cause, add all of that up, subtract the suffering from the happiness, and go with the policy that yields the greatest amount of happiness. We find this idea intuitive, because we like to be generous and help other people. If there are surpluses of happiness anywhere in the world, we often feel it would be great if those surpluses could be transferred, somehow, to the less fortunate.
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