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give to the right persons, at the right times, and where it is noble to give.

It is very characteristic of the liberal man72 to go even to excess in giving, so as to leave too little for himself; for disregard of self is part of his character.

In applying the term liberality we must take account of a man’s fortune; for it is not the amount of what is given that makes a gift liberal, but the liberal habit or character of the doer; and this character proportions the gift to the fortune of the giver. And so it is quite possible that the giver of the smaller sum may be the more liberal man, if his means be smaller.

Those who have inherited a fortune seem to be more liberal than those who have made one; for they have never known want; and all men are particularly fond of what themselves have made, as we see in parents and poets.

It is not easy for a liberal man to be rich, as he is not apt to take or to keep, but is apt to spend, and cares for money not on its own account, but only for the sake of giving it away.

Hence the charge often brought against fortune, that those who most deserve wealth are least blessed with it. But this is natural enough; for it is just as impossible to have wealth without taking trouble about it, as it is to have anything else.

Nevertheless the liberal man will not give to the wrong people, nor at the wrong times; for if he did, he would no longer be displaying true liberality, and, after spending thus, would not have enough to spend on the right occasions. For, as we have already said, he is liberal who spends in proportion to his fortune, on proper objects, while he who exceeds this is prodigal. And so princes73 are not called prodigal, because it does not seem easy for them to exceed the measure of their possessions in gifts and expenses.

Liberality, then, being moderation in the giving and taking of wealth, the liberal man will give and spend the proper amount on the proper objects, alike in small things and in great, and that with pleasure; and will also take the proper amount from the proper sources. For since the virtue is moderation in both giving and taking, the man who has the virtue will do both rightly. Right taking is consistent with right giving, but any other taking is contrary to it. Those givings and takings, then, that are consistent with one another are found in the same person, while those that are contrary to one another manifestly are not.

But if a liberal man happen to spend anything in a manner contrary to what is right and noble, he will be pained, but moderately and in due measure; for it is a characteristic of virtue to be pleased and pained on the right occasions and in due measure.

The liberal man, again, is easy to deal with in money matters; it is not hard to cheat him, as he does not value wealth, and is more apt to be vexed at having failed to spend where he ought, than to be pained at having spent where he ought not⁠—the sort of man that Simonides would not commend.74

The prodigal, on the other hand, errs in these points also; he is not pleased on the right occasions nor in the right way, nor pained: but this will be clearer as we go on.

We have already said that both prodigality and illiberality are at once excess and deficiency, in two things, viz. giving and taking (expenditure being included in giving). Prodigality exceeds in giving and in not taking, but falls short in taking; illiberality falls short in giving, but exceeds in taking⁠—in small things, we must add.

Now, the two elements of prodigality are not commonly united in the same person:75 it is not easy for a man who never takes to be always giving; for private persons soon exhaust their means of giving, and it is to private persons that the name is generally applied.76

A prodigal of this kind [i.e. in whom both the elements are combined], we must observe, would seem to be not a little better than an illiberal man. For he is easily cured by advancing years and by lack of means, and may come to the middle course. For he has the essential points of the liberal character; he gives and abstains from taking, though he does neither well nor as he ought. If then he can be trained to this, or if in any other way this change in his nature can be effected, he will be liberal; for then he will give to whom he ought, and will not take whence he ought not. And so he is generally thought to be not a bad character; for to go too far in giving and in not taking does not show a vicious or ignoble nature so much as a foolish one.

A prodigal of this sort, then, seems to be much better than an illiberal man, both for the reasons already given, and also because the former does good to many, but the latter to no one, not even to himself.

But most prodigals, as has been said, not only give wrongly, but take from wrong sources, and are in this respect illiberal. They become grasping because they wish to spend, but cannot readily do so, as their supplies soon fail. So they are compelled to draw from other sources. At the same time, since they care nothing for what is noble, they will take quite recklessly from any source whatever; for they long to give, but care not a whit how the money goes or whence it comes.

And so their gifts are not liberal; for they are not noble, nor are they given with

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