Economics and Its Ethical Assumptions (mises.org)
- Highlight Loc. 189-96 | Added on Thursday, March 15, 2012, 03:04 PM
There's this tradition I call the eudaimonic tradition, from the Greek word for happiness or well-being, eudaimonia. And this is a tradition that runs through Socrates, Plato, Aristotle, the Stoics, and it runs on through the medieval philosophers and the Scholastics, Aquinas and so forth; in fact it's the dominant ethical tradition of the first 2,000 years of Western philosophy. It's not until after the end of the Middl Ages that it begins to be whittled away by new theories. And this is the view according to which there is an ultimate good, which usually gets called "happiness" — but that can be somewhat misleading, because it's not a pleasant feeling of satisfaction, although it may involve that — but it's a state of your life objectively going well, your life being an objective success, something like your being successful at living a good human life: that's what eudaimonia is. That's the ultimate good. And morality is not just an instrumental means to that good; it's actually part of it.
