The Utilitarian Theory Of Property - 1480 Words

The Utilitarian theory of property looks to maximize utility for all when property decisions are made. The common statement for the utilitarian property theory is that in making a property the decision should do the greatest good for the greatest amount of people. The problem of course with this theory is that there are many different definitions and ways to measure utility. While one of the founds of Utilitarianism, Jeremy Bentham looked at pleasure to measure utility, aggregated in a balancing system for decision-making, the problem with this view is that it included pleasure derived from bad things as well. A popular idea, under the Law and Economics theory, an offshoot of Utilitarianism, is looking at it from an economic perspective using wealth to identify and go through a cost-benefit analysis. The problem of course is looking at the price of which people are willing to pay necessarily depends on perfect information and that wealth effects will not influence the numbers. Ap plying a cost-benefit utilitarian analysis for the property decision in the Beacon Hill case leads to confusing and shows the problem of looking at decisions regarding cultural property through a Utilitarian lens. 1. Whom to Include in the Aggregation To decide what the greatest good for the greatest amount of people, who those people are has to be decided. It would not make sense to define people, as everyone in the world or the country, a more finite group is needed in order to aggregateShow MoreRelatedThe Utilitarian Theory Of Property1590 Words   |  7 PagesA. Utilitarianism The Utilitarian theory of property seeks to maximize the population’s utility when a property decision is made, the greatest good for the greatest amount of people. The difficulty with this theory stems from defining and aggregating a measure of utility comparable for all people in a cost-benefit analysis. 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