In Aristotle’s Nicomachean Ethics, the concept of fortune is closely related to happiness.
Aristotle explains that "minor instances of good and likewise of bad luck do not decisively tip the scales of life…," but major good fortune is beneficial because, among other things, it affords "the opportunity for noble and good actions". On the other hand, misfortune may crush individual happiness. Aristotle points out, however, that "nobility shines through even in such circumstances, when a man bears many great misfortunes…".
Nobility, or virtue, thus allows the individual to escape misery in the face of misfortune because by performing virtuous acts the person attains a measure of happiness. Yet virtue alone cannot provide the individual with supreme happiness. Aristotle cites King Priam as an example of an individual who possesses a noble character, but, having been subjected to grave misfortune, is unable to obtain complete happiness.
Fortune, then, is an uncontrollable element that wields enough power to keep people from their desired ends.
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