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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 ?
Magistrates sentenced Gooding to nine months of drug treatment and a curfew for six weeks.
Gooding also currently serves as non-executive chairman of Premier Farnell plc (LSE:PFL) and chairs its nominating committee, as well as serving on the board of Standard Chartered plc (LSE:STAN).
Asked the motive behind the moves, Gooding said the main point of this whole exercise is to "serve notice on the Iraqi state" that on June 30 when the UN Security Council restrictions disappear on oil assets, "we will be seizing oil assets when and where we can"
We are proud to announce that Amber Gooding will receive the AMAC award.
Still passionate about his craft, Gooding ventured into producing projects to get more stories told.
Mr Gooding was thought to favour keeping the bank as an independent business, keeping its name, structure and relationship with the charitable Northern Rock Foundation.
David Gooding, manager of Nuneaton and Bedworth Citizens' Advice Bureau, said that although the strike may be at an end, there was a huge backlog of mail to clear.
If ``Shadowboxer'' ends up snaring some end-of-year nominations for stars Helen Mirren, Cuba Gooding Jr.
Ian Gooding asks why the Baracouda error happened SO, HAD Windsor gone ahead, Baracouda would not have been running because of an "administrative error".
According to Don Gooding, president of" Mainely A Cappella, website and catalog, "There is a study showing a crisis caused by music educators who are aging and retiring with no one to replace them.
Stokesley Women's Institute member Christine Gooding boarded a specially chartered 'toxic bus' to travel to Brussels this month to lobby MEPs ahead of a crucial vote of pollution control.