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Thus an action is considered right if it tends to produce happiness and wrong if it leads to the reverse effects of happiness, not only to the executer of the action but also to everyone else that is – either directly or indirectly – affected by the action.
The influence of utilitarianism on other areas besides philosophy, such as law, politics and economy, over the last centuries has become clearly notable, whereas this paper focuses - besides a detailed description of the classical utilitarianism itself - explicitly on its influence on decision making with respect to the economy. Based on the common characterization of utilitarianism that ethically right acts are those that produce “the greatest good (or greatest happiness) for the greatest number” this paper aims at examining this formulation in detail with respect to applying it to the decision making process in business which has a considerable influence on economy...
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