Here.
Please don't read comments until you've read this. It is very short and fast to read. It is radicalizing. It is a good short story to send to your friend who needs to understand what capitalism is. LeGuin wrote this in 1973, cementing her status as Chad Supreme of Fuck Mountain. Bow before her might.
Let's discuss in the comments below.
So, LeGuin is certainly not a utilitarian. She claims to be a Taoist, which I know little about, but the story's morality is almost Kantian. No suffering is morally permissible, there is no great balance. But I believe the story is trying to state that "This idealized world with only one suffering and all else reaping the benefits is still unethical, how much less is our world."
By the by, I am a utilitarian and can see the story as both a allegory in which I appreciate its message, and as a fiction where I'd choose this world over any realistic possibility.