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Happiness, whether consisting in pleasure or virtue, or both, is more often found with those who are highly cultivated in their minds and in their character, and have only a moderate share of external goods, than among those who possess external goods to a useless extent but are deficient in higher qualities.
There is an ideal of excellence for any particular craft or occupation; similarly there must be an excellent that we can achieve as human beings. That is, we can live our lives as a whole in such a way that they can be judged not just as excellent in this respect or in that occupation, but as excellent, period. Only when we develop our truly human capacities sufficiently to achieve this human excellent will we have lives blessed with happiness.
One can aim at honor both as one ought, and more than one ought, and less than one ought. He whose craving for honor is excessive is said to be ambitious, and he who is deficient in this respect unambitious; while he who observes the mean has no peculiar name.
The virtue of a faculty is related to the special function which that faculty performs. Now there are three elements in the soul which control action and the attainment of truth: namely, Sensation, Intellect, and Desire. Of these, Sensation never originates action, as is shown by the fact that animals have sensation but are not capable of action.
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