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Homework answers / question archive / Jeremy Bentham argued that every act was morally valuable to the extent that is resulted in happiness
Jeremy Bentham argued that every act was morally valuable to the extent that is resulted in happiness. All moral judgements were passed upon the poles of pain and pleasure.
Describe this in terms of economics.
Speaking of the argument by Jeremy Bentham that "every act was morally valuable to the extent that is resulted in happiness and moral judgments were passed upon the poles of pain and pleasure", it can be applied in economics. Economic activities that are based on happiness and moral judgments consider people's welfare, health and welfare education, and public policy. Happiness means that the needs of all stakeholders must be satisfied. Customers should get the value of the money they paid to get goods and services, the community should benefit from equal opportunities, workers should be treated well and better wages and salaries should be secured, and businesses should operate with little or no interruption.
A moral act refers to economic activities that seek to benefit those in need rather than to treat them as customers. It involves donating money to a charity rather than simply looking at profits. In addition, this involves seeking the opinions of other people who have had prior product experience in order to improve products and services better. It involves focusing on products that will improve the well-being of consumers rather than simply focusing on the best deal. The non-polluting of the environment and the exploitation of resources is part of a happy economy.