Phronimos, possessing practical wisdom . But the only virtue special to a ruler is practical wisdom; all the others must be possessed, so it seems, both by rulers and ruled. The virtue of a person being ruled is not practical wisdom but correct opinion; he is rather like a person who makes the pipes, while the ruler is the one who can play them.
The majority of mankind would seem to be beguiled into error by pleasure, which, not being really a good, yet seems to be so. So that they indiscriminately choose as good whatsoever gives them pleasure, while they avoid all pain alike as evil.
Some men turn every quality or art into a means of making money; this they conceive to be the end, and to the promotion of the end all things must contribute.
Virtue also depends on ourselves. And so also does vice. For where we are free to act we are also free to refrain from acting, and where we are able to say No we are also able to say Yes; if therefore we are responsible for doing a thing when to do it right, we are also responsible for not doing it when not to do it is wrong, and if we are responsible for rightly not doing a thing, we are also responsible for wrongly doing it.
Because the rich are generally few in number, while the poor are many, they appear to be antagonistic, and as the one or the other prevails they form the government. Hence arises the common opinion that there are two kinds of government - democracy and oligarchy.