Assigned questions: 1. Shaw and Barry distinguish two different forms of utilita
ID: 417836 • Letter: A
Question
Assigned questions:
1. Shaw and Barry distinguish two different forms of utilitarianism. What are these two forms. Briefly describe each and use examples.
2. What do economists mean by the "declining marginal utility of money"?
3. Robert Nozick presents his entitlement theory as a function of three basic principles. What are these three basic principles? What ethical theory are these principles most closely aligned with?
4. Two main features of John Rawls's theory of distributive justice are particularly important. What are these two features? Describe them.
5. What is the MAXIMIN rule for making decisions?
6. What is the role of the "veil of ignorance" in Rawls' theory of distributive justice?
7. According to Shaw and Barry, deciding what sort of economic arrangements would best promote human happiness requires the utilitarian to consider many things. What are the five considerations mentioned by Shaw and Barry?
Explanation / Answer
1. Two different forms of utilitarianism are 1. Act utilitarianism 2. Rule utilitarianism
Act utilitarianism deals of results and consequences of the act while rule utilitarianism deals with moral principles behind the act.
1st states that before procedding for a particular task or taking a decision, we should think of its concequences for all the parties involved. While, 2nd states that before taking a decision we should think about moral priciples governing the decision. i.e. whether the decision is morally right or wrong irrespective of the consequences.
2. Utility that comes with each increasing dollar of income keep decreasing. i.e. if you income increase to a certain level, you gain satisfaction out of it. After a certain level the satisfaction that comes with increase keeps decreasing as our basic needs start meeting.
3.
4. 2 main features of John Rawls's theory of distributive justice are i. The Greatest Equal Liberty Principle ii. The difference Principle .
1st feature, in simple terms, states that everyone has equal right to basic liberties.
2nd feature regualates inequalities. it only permits inequalities that work to the advantage of the worst-off
6. Veil of ignorance states that a person who is taking a decision as per law of equality or difference , does not know anything about origin, caste, color or parties involved in decision making.Judges subject to the veil of ignorance will make choices based upon ethics, since they will not be able to make choices based on their own self- or class-interest.
5. Maximin rule maximizes the minimum pay-off among a number of options. To apply this rule, an investor or deicison maker will consider worst or minimum pay-off of all the options and choose the maximum out of these amounts.
In general , it means choose an option in which worst that can happen to you is better than worst that can happen to you if you choose any other alternative
7. 5 considerations mentioned by Shaw and Barry are