Utilitarianism and economics

Utilitarianism is an ethical theory that suggests actions are right if they maximize overall happiness or well-being. In economics, this principle guides decisions to promote the greatest good for the greatest number, such as policymakers designing policies that improve general welfare. Both fields focus on evaluating options based on their outcomes, aiming to increase positive results like health, wealth, or satisfaction, while minimizing suffering and costs. This approach helps balance individual interests with societal benefits, guiding resource distribution and policy choices to achieve maximum collective benefit.