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Economics a commodity or service that satisfies a human need



in ethics and philosophy, that which includes definite positive meaning. In philosophy the question of good was posed in attempts to explain the meaning of existence and human life and was treated as the problem of the greatest good (summum bonum in Latin, a term introduced by Aristotle); this greatest good determined the relative value of all other goods. The Greek philosophers viewed the greatest good as happiness— “eudaemonia” —the exact meaning of which was defined in various ways by representatives of different schools. For example, the Cyrenaics and Epicurus defined it as pleasure, the Cynics as abstention from passion, and Aristotle and the Stoics as virtue (in the sense of the supremacy of the higher and more rational forms of nature over the lower). Plato considered “the good” to be “the one” which is the basis of all existence. Aristotle distinguished three kinds of good: corporeal (health, strength), external (wealth, honor, glory), and spiritual (intelligence, moral virtue). In the Middle Ages, scholasticism attempted to rework the ideas of the ancient philosophers in terms of the principles of Christian theism. The result was the identification of the greatest good with god, the source of all good and the ultimate goal of human aspiration.

New European philosophy emphasized the role of the subject in determining any sort of good. T. Hobbes and B. Spinoza said that the good is that for which man is striving, that which he needs. Another development which was characteristic of new European ethics was the utilitarian interpretation of good, which reduces it to the idea of usefulness. Kant distinguished the supreme good from the absolute good. The former is good will and moral virtue; and latter requires that virtue be combined with happiness. Thereafter the concept of the good gradually lost its significance and, from the middle of the 19th century was replaced by the concept of value.

In the narrower and specifically ethical sense of the word, the concept of good is opposite to that of evil.


Material goods Economists consider material goods from two different points of view: in terms of their usefulness (their capacity for satisfying a particular human need) and in terms of how much man has contributed to their production. Accordingly, there are two kinds of value—use value and exchange value. Material goods are usually considered to include consumer goods (services as well as wares) which satisfy a great variety of human needs.


References in periodicals archive ?
There was a clear bias towards good-looking criminals who committed less serious crimes such as theft, smuggling and fraud, who were given about 20% lighter punishment on average, reported Reuters.
We thought the market was there for good-looking, smooth, close-tolerance aluminum castings," he said.
There didn't appear to be any difference in earnings among the good-looking and bad-looking lawyers who graduated in the 1980s, Hamermesh notes.
The actress said she initially thought Beckham was just another good-looking guy that looked like him, until she was able to confirm his identity in the queue to the counter.
It's tough being really, really good-looking, according to Pixie Lott's model boyfriend Oliver Cheshire.
Dear Coleen, MY boyfriend is incredibly sexy and good-looking but he's a real prude in bed.
For the four-year study, psychologist Andrea Meltzer asked 450 newlywed couples whether a good-looking spouse leads to a more satisfying union, the Huffington Post reported.
I used to say Mel Gibson should play me in a film, but he is not so good-looking any more.
That's why we always try to employ good-looking people.
Russell said: eC[pounds sterling]The thing is that theyeCOre both so stupidly beautiful and good-looking and attractive that their children are born looking gorgeous
Good-looking men in advertisements appeal to everyone.