The ethical concept that acts are moral when they promote the individual's best long term interests, which ultimately leads to the greater good, is known as the moral rights approach.

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The ethical concept described in the statement is actually known as the ethical egoism approach. The moral rights approach emphasizes on the inherent rights of individuals to be treated with respect and dignity, and not just focusing on their long term interests.

The Ethical Concept That Acts Are Moral When They Promote