Virtues of wealth: Liberality & Magnificence

For Aristotle, the magnificent man is liberal but the liberal man is not necessarily magnificent [1122a: 29-30]. Liberality entails (1) giving for the sake of the noble, (2) giving to the right people, (3) the right amounts (4), at the right time [1120a: 24-25], (5) from the right sources or from his own possessions [1120b]. The liberal man will thus give and take the right amounts [1120b: 29]. Most importantly, the amount given is relative to the person or giver [1120b: 7-8]. So, contingent on the situation and the giver, one can give less but still be considered liberal [1120b: 9-10]. However, magnificence is not concerned with all actions of wealth unlike liberality [1122a: 20] It is only about large scale expenditures [1122a: 21-22] especially toward public objects regarding religious worship [1122b: 21] or entertaining the city [1122b: 24]. Thus, like liberality, money must be spend rightly or fittingly for the honourable (for this is the most virtuous) but in the case of magnificence, amounts spent are far more colossal and on great objects and public goods [1123a: 14]. So, the poor man can be liberal but cannot be magnificent.