Aristotle and Economics

It is commonly put forth that Aristotle’s ethics is a virtue ethics. This is contrasted with ethics that is orientated toward right actions. For Aristotle, this is a pseudo-distinction. One cannot build one’s virtues except through performing right actions. For Aristotle, one performs right actions for their own sake, not for the sake of building virtues or even building character. But the performance of noble deeds, which is the ultimate counsel to life that Aristotle gives, has as its natural consequence the building of virtue and the building of character. This, in turn, brings happiness. Since none of Aristotle’s writings is extant, it is not easy to ferret out Aristotle’s meaning. However, if one reads the lecture notes of Aristotle’s students with some care, it is clear that one should not act for the sake of building character or obtaining happiness. Indeed, the purpose of political society, for Aristotle, is to create a venue for the performance of noble actions. Noble acts, just acts, are the goal for mankind. Nothing else. That happiness flows from this is proof for Aristotle that this is the right path for humankind to take.