Examlex
Jeremy Bentham: An Introduction to the Principles of Morals and Legislation
Bentham endorses both a descriptive and a normative version of hedonism, the view that the human good is pleasure and absence of pain. According to the descriptive version, all human actions are performed for the sake of obtaining pleasure and avoiding pain. According to the normative version, what we ought to do is determined solely by considerations of pleasure and pain. As a development of this normative thesis, Bentham goes on to endorse the principle of utility, the claim that an action is right when it tends to add to the sum total of the pleasures of those affected, where this "sum" is conceived of as the total amount of pleasure minus the total amount of pain.
Bentham claims that the words right and wrong can have no other meaning than that laid out by the principle of utility, and that alternative moral theories usually end up invoking utilitarian considerations. Nonetheless, Bentham admits that the principle of utility cannot be directly proved, because it is the foundational principle from which ethical arguments begin. Bentham critiques the rival "principle of sympathy and antipathy" according to which an action is right if and only if one approves of it. This principle, Bentham objects, is really no principle at all, for a principle is supposed to tell us when our attitudes are justified, but the principle of sympathy and antipathy merely assumes in advance that our attitudes have such justification.
Taking the principle of utility as established, Bentham concludes with a discussion of how we are to apply it. He distinguishes four sources of pleasure and pain: physical, political, moral, and religious. He then discusses the various ways in which pleasures and pains can be quantitatively different. Determining our moral obligations requires weighing various pleasures and pains against each other, and seeking the greatest balance between them. Bentham notes that we needn't perform such calculations every time we act, but insists that we should always keep them in the back of our mind.
-According to Bentham, the principle of utility should be applied to individual actions, but not to government policies.
Margin
The difference between the selling price of a product or service and its cost, or the borrowed funds used to invest in securities.
Margin Call
A demand by a broker that an investor deposits further cash or securities to cover possible losses.
Initial Margin
The initial margin is the upfront investment required when buying on margin or entering a futures contract, acting as a security deposit for the trade.
Maintenance Margin
The minimum amount of equity an investor must maintain in a margin account after the purchase has been made, to keep the position open.
Q1: According to Kant, the basis of morality
Q3: Even gardening can be a form of
Q4: An action has deliberative justification if and
Q6: In Nietzsche's view, Christian morality must be:<br>A)
Q6: Mill claims that one of the strongest
Q11: In Nietzsche's view, the idea of punishing
Q14: What kind of a good does Socrates
Q19: Epicurus claims that whenever pleasure is present,
Q22: Sidwick argues that internal sanctions are insufficient
Q24: According to Bentham, it is impossible to