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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 ?
The AFCA is proud to work with Allstate in highlighting the record number of nominees sent in for the 2014 Allstate AFCA Good Works Team.
Hence the donation to the Jordanian Hashemite Fund for Human Development - Charity and Good Works Campaign, led by HRH Princess Basma Bint Talal, is putting our social commitment into effect".
All good works and to be lauded, but isn't it sad that we actually have to formalise what should be a natural, humanitarian reaction.
Entrance into the Kingdom of Heaven could not be earned through good works, but was a reward and free gift from God bestowed only on those whom he elected to receive it.
Even though the medieval Catholic tradition remained rooted in the Augustinian tradition, rejecting all forms of Pelagianism (that is, that we can win redemption by our good works apart from grace), this has not been the perception of most protestants.
Through their own good work, they've already contributed enormously to the betterment of human life.
Rather than being jealous, supervisors should be proud of their subordinates' accomplishments and praise them for their good work.
Quantity is also considered--the sheer weight of numerous good works.
Contract notice: Inspections of good works in the context of the emergency measures against poisoning.
Their elder sister Macrina was sanctified (379) for good works.
Once you have decided that rightousness is not to be bought by pilgrimages, relics, indulgences, or even by your own good works and merits, but that it is entirely a gift, you have to receive it and then put it to work.