Question

What political-economic system is likely to produce the greatest amount of happiness?

Answer 1

One of the most popular theory is the theory of "Utilitarianism" that is generally used to govern a political-economic system of a country whose main motive is to maximise the gross happiness of the population.

Utilitarianism is an ethical philosophy, was first introduced by Bentham and it is based on a basic idea that an action is to be considered right if it produces the most good. According to this theory, the government must choose a policy(either economic, political or social) that leads to an overall increse in the happiness and pleasure of the people. In other words, the key axiom of Utilitarianism is the greatest amount of good for the greatest amount of people.

Democracy is one such real life attempts that can be considered as a policy based on the theory of Utilitarianism. As its main aim is to give a complete right to the people to choose who will rule over them and form the government based on the rule of majority.