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Rule utilitarianism determines the rightness of an act based on the rule the following of which has the best overall consequence. Act utilitarianism, on the other hand, states that a choice should…
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Download file "Leave blank" to see previous pages... However, under act utilitarianism, if for instance such a person were known to be a Pol Pot, and Idi Amin or a Hitler, then killing him would be justified in order to spare the many more they would have killed.
The declining marginal utility of money refers to the change in total satisfaction derived from the purchase of one additional or incremental unit of a specific good or service,
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all else being equal (, 2010). In other words, as a person has more and more of one thing, his satisfaction with each additional unit of the thing becomes less and less. For instance, a beggar with nothing at all will be immensely joyful at receiving a dollar. A student will frown at the dollar, but will be happy with a hundred dollars. The office worker may be disappointed with a hundred dollar raise, but will welcome ten thousand dollars added to his annual income. Finally, a millionaire will think nothing of ten thousand dollars; he needs to acquire ten million dollars to feel the same satisfaction that the beggar felt with one dollar.
(b) A principle of justice in transfer – A person who acquires a holding in accordance with the principle of justice in transfer, from someone else entitled to the holding, is entitled to the holding.
(c) A principle of rectification of injustice - No one is entitled to a holding except by (repeated) applications of 1 and 2. Otherwise, holdings that are unjustly acquired or transferred, should be returns, victims duly compensated, past transgressions or injustices done by a government rectified, and so on.
An example of the first principle is that a person may legally acquire an asset, such as a car, by purchasing it at good value. If the sale, however, is done under duress and for a price way below its true value so as not to be justified, then the right of ownership does not transfer, as in the case of a man who forces ...Download file "Leave blank" to see next pagesRead More
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