John Stuart Mill advocated for economic policies that would promote the greatest good for the greatest number from "summary" of The Worldly Philosophers by Robert L. Heilbroner
John Stuart Mill was a firm believer in the importance of promoting the well-being of the majority of society. He believed that economic policies should be designed with the aim of benefiting the greatest number of people possible. This concept, known as utilitarianism, formed the foundation of Mill's economic philosophy. Utilitarianism was based on the idea that actions are right to the extent that they promote happiness and wrong to the extent that they produce the reverse of happiness. In the case of economic policies, this meant that the ultimate goal should be to maximize the overall well-being of society as a whole. Mill argued that economic decisions should be guided by their impact on the general welfare, rather than the interests of a select few. Mill believed that the government had a responsibility to intervene in the economy to ensure that the benefits of economic growth were distributed equitably among the population. He advocated for policies such as progressive taxation and social welfare programs to help alleviate poverty and reduce inequality. By promoting policies that would benefit the greatest number of people, Mill believed that society as a whole would be better off. While some critics argued that Mill's approach was overly idealistic and impractical, he remained steadfast in his belief that the well-being of the majority should be the ultimate goal of economic policy. He saw economic prosperity not as an end in itself, but as a means to achieving a more just and equitable society. In Mill's view, economic policies should be judged not by their impact on the wealthy or powerful, but by their ability to improve the lives of the most vulnerable members of society.
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