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How effective is Aristotle's Virtue Ethics as a practical ethical system in the modern day?

No other ethical theories take into account a person's character quite as much as Virtue Ethics. Actions should be pursued in moderation by not acting with excess or deficiency. Aristotle called this the golden mean. Goals are pursued for the end in itself, a state of pure happiness (Eudaimonia), rather than pursusing morally bad means to an end. Virtuous acts would not conflict if pursued in moderation unlike other ethical theories like Utilitarianism and Kantian ethics. Aristotle also placed a huge importance on actually following this ethic by acting, not just by reading it as a theory. Action and 'doing' are the ways that you can be virtuous and actually see results in the world.

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