Tutorial 2: The Responsibility of Leaders II: Should leaders maximize wellbeing? Effective Altruism

Question 1

Explain consequentialism.

Answer 1

An act is morally required just because it produces the best overall results.

Question 2

Explain utilitarianism.

Answer 2

An act is morally required just because it produces the maximum wellbeing.

Question 3

What are the characteristics of the shareholder approach? And which theory is it?

Answer 3

Respecting contractual obligations
Respecting property rights
Theory: Deontological

Question 4

What are the characteristics of the stakeholder approach? And which theory is it?

Answer 4

Respecting all stakeholder rights
Theory: Deontological

Question 5

What are the characteristics of the market failure approach? And which theory is it?

Answer 5

An efficient economy increases welfare.
Theory: Consequentialist/Utilitarian

Question 6

Explain the deontological theory.

Answer 6

Deontology focuses on whether the action itself is good or wrong, and doesn’t look at the consequences.