Of actions some aim at what is necessary and useful, and some at what is honorable. And the preference given to one or the other class of actions must necessarily be like the preference given to one or other part of the soul and its actions over the other; there must be war for the sake of peace, business for the sake of leisure, things useful and necessary for the sake of things honorable.
It is clear that there is some difference between ends: some ends are energeia [energy], while others are products which are additional to the energeia.
But the whole vital process of the earth takes place so gradually and in periods of time which are so immense compared with the length of our life, that these changes are not observed, and before their course can be recorded from beginning to end whole nations perish and are destroyed.
So virtue is a purposive disposition, lying in a mean that is relative to us and determined by a rational principle, and by that which a prudent man would use to determine it. It is a mean between two kinds of vice, one of excess and the other of deficiency.
A state is an association of similar persons whose aim is the best life possible. What is best is happiness, and to be happy is an active exercise of virtue and a complete employment of it.