lec08-teleologicaltheory

Teleological Ethics

A branch of ethics that judges the moral value of an action based on its consequences.

Ethical Egoism

The theory that individuals should act in their own best interests.

Utilitarianism

An ethical theory that suggests the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.

Act Utilitarianism

A form of utilitarianism that assesses each separate act according to whether it maximizes pleasure over pain.

Rule Utilitarianism

A form of utilitarianism that supports rules that on balance produce the greatest pleasure for society.

Principle of Utility (AU)

A guiding principle stating one ought to seek the greatest possible balance of good over evil.

Greatest Happiness Principle

The principle that one ought to seek to produce the greatest happiness for the greatest number.

Hedonic Utilitarianism

A form of utilitarianism that equates pleasure with happiness and pain with suffering.

Psychological Hedonism

The theory that all humans seek pleasure and avoid pain.

Ethical Hedonism

The normative claim that all moral agents ought to pursue pleasure and avoid pain.

Experiential values

Values that enhance or detract from a person's overall quality of life.

Counterintuitive consequences

Circumstances wherein moral theories justify actions that may seem immoral or wrong.

Enlightened Self-Interest

A form of ethical egoism where an individual's best interests align with the interests of others.

Insider Trading

The illegal practice of trading on the stock exchange to one's own advantage through having access to confidential information.

Rule forbidding insider trading

A rule justified by the potential negative consequences of allowing insider trading on the economy and market stability.

Contradiction in Ethical Egoism

A situation where conflicting interests arise, leading to a moral dilemma between individuals acting in self-interest.