A History of Greek Economic ThoughtTrever, Albert Augustus
History
A History of Greek Economic Thought
Trever, Albert Augustus
Economics -- Greece -- History; Thesis (Ph. D.)
From our comparison of the two definitions, then, it is evident that,
though Aristotle is antithetical to Mill in putting the ethical interest
first, and though his definition is not so scientifically specific, yet
the two agree in recognizing the qualities of materiality, exchange
value, and possibility of accumulation as necessary attributes of
wealth. We shall see below, also, that the Greek philosopher was the
forerunner of the orthodox English economists in criticizing the common
confusion of money with wealth.[554]
But, despite his grasp of the leading principles in the economics of
wealth, he takes the same negative moral attitude toward wealth as does
Plato, though his hostility is also directed primarily against the
spirit that commercializes life and makes unlimited wealth the _summum
bonum_. To his mind, this idea that wealth is the sum of all goods is
almost the necessary accompaniment of the possession of superfluous
wealth, but it is especially characteristic of the new-rich (νεωστὶ
κεκτημένοις).[555] Yet Aristotle is too practical to be ascetic. He
realizes that leisure (σχολή) is necessary for moral development and for
good citizenship, and that this cannot be enjoyed except on a basis of
sufficient wealth. A fair competency is therefore desirable for the best
life,[556] for men should live not only temperately, but liberally.[557]
Poverty produces civic strife and crime.[558] Wealth in the absolute
sense (ἁπλῶς) is always good, though it may not always be fitted to a
certain individual, or be property used by him.[559] Each, therefore,
should choose what is good for himself, and use it accordingly.[560] All
this sounds saner than the subjective notion of wealth taught by Plato.
But right here is the secret of the difficulty as Aristotle sees it.
Just because all external wealth is good in the absolute sense, the
popular error has arisen that it is the final cause (αἰτία) of all
happiness,[561] whereas the actual relation of wealth to happiness is
the same as that of the lyre to the tune. There can be no music without
the intervention of the musician.[562] External goods are therefore not
of primary importance to life. The goods of the soul should be placed
first,[563] for the virtues of life are not gained and preserved by
material wealth, but vice versa,[564] and the men of high character and
intelligence are most happy, even though their wealth is moderate.[565]
The common attitude of the money-maker that wealth is unlimited is
contrary to nature.[566] Genuine wealth cannot be unlimited,[567] since
external goods are strictly defined by their utility for a certain
thing. Excessive wealth thus either harms the owner, or is, at least,
useless to him.[568] Neither can wealth be rightly made the _summum
bonum_, for it is really not an end at all, but only a collection of
means to an end (ὀργάνων πλῆθος).[569] The inevitable result of making
it the end and measure of all is moral degeneration.[570] If the highest
Public-domain text, read in full here on John Shaqi.
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