ABSTRACT
This chapter deals with the ‘ideals’ that normative economics should identify. It suggests defining them in terms of their contribution to the common good of people, while investigating their possible content. After explaining different versions of the common good, it decides to use the classical Aristotelian conception. This classical concept implies an anthropological position and a Theory of the Good. The chapter borrows from Aristotle’s works the specific goods composing it and proceeds to use this perspective to analyse happiness economics, the capability approach and libertarian paternalism in order to ascertain how they could support this vision. The conclusion is that incorporating the Aristotelian frame into these theories can strongly contribute to develop an economic setting not only compatible with a flourishing life but also leading to it. This conclusion confirms that, as advanced in the introduction to this book, normative economics has a strong relation with ethics and should be a transdisciplinary discipline.
