Week 2 Quiz Flashcards
Question posed by pondering distributive justice
How do we want to allocate goods and resources across people?
Utilitarianism
Pleasure vs Pain
What issues does utilitarianism pose?
Issue of quality: Are all forms of happiness the same, issues measuring utility
How does modern economics move past pleasure vs pain?
Focusing purely on choices, well-being is about getting what you prefer
Founder of original utilitarianism
Bentham
Social Welfare Function (Old, Bentham’s Utilitarianism)
Sum of all happiness-sum of pain
Who believed all beings should be treated symmetrically?
Bentham
Believed resources should go where they add the most pleasure
Bentham
What is the relationship of the utilities of person 1 and person 2 under utilitarianism?
They are perfect substitutes
A man should wander about treating all creatures as he himself would be treated
Golden Rule
Act only according to rules you would want to be universal
Kant’s Categorical Imperative
Most famous dictum of the liberal tradition of economics
Harm principle (Do everything which injures no one else)
Make choices behind a veil of ignorance
Birth lottery
Argued for maximizing the utility of society’s least well off
Rawls
Inequality not bad in itself
Welfarism