Abstract
Act utilitarianism is short-term, reactive and piecemeal. It is a pragmatic response to a here-and-now challenge. Act utilitarianism ‘plays it by ear’ and lives for today. It focuses on the one-off choice and the case-by-case assessment. It is a short-term patch rather than a long-term solution. It is the standard approach of the maximising economics. It is the window on the world of John Maynard Keynes. Keynes (1923: 80) calls the long run ‘a misleading guide to current affairs’: ‘In the long run we are all dead’. Keynes recommends that economists should rank the ad hoc in the hand above the unknowable in the void.
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© 2015 David Reisman
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Reisman, D. (2015). Acts and Rules. In: James Buchanan. Great Thinkers in Economics Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137427182_6
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DOI: https://doi.org/10.1057/9781137427182_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-49105-6
Online ISBN: 978-1-137-42718-2
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