Economics


Economic Ideas: Plato, Aristotle, and the Ancient Greeks, Part 2

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When we turn to the other most famous ancient Greek philosopher, Aristotle (384 B.C. – 322 B.C.), we find little of the political regimentation that characterizes his teacher, Plato. For Aristotle, the appropriate behavior is the “golden mean,” that is, the avoidance of “extreme” or unrealistic goals or conduct in the affairs of men. While he hopes that wise policies ...