Final answer:
Utilitarianism is the act of creating the greatest good for the greatest number of people by maximizing overall happiness and welfare. Developed by Jeremy Bentham and John Stuart Mill, it posits that moral actions lead to the highest net happiness across society.
Step-by-step explanation:
The act that creates the greatest good for the greatest number of people is known as utilitarianism. This consequentialist theory, developed by Jeremy Bentham and later refined by John Stuart Mill, advocates for maximizing happiness and human welfare. In utilitarian philosophy, actions are deemed moral if they generate the most net happiness, considering the sum of all happiness minus the sum of all unhappiness among those affected. Thus, a decision should aim to produce the greatest happiness for the greatest number, factoring in the interests and well-being of all involved.
Utilitarianism is based on the principle of utility, which defines usefulness in terms of promoting happiness or pleasure. This principle states that "actions are right in proportion as they tend to promote happiness; wrong as they tend to produce the reverse of happiness" (Mill [1861] 2001, 7). Applied to larger societal and political contexts, it suggests that laws and policies should aim for the common good, reflecting the happiness of the majority, rather than the interests of a particular class or individual.