In recent years, philosophical inquiry into individual welfare has blossomed into something of a cottage industry, and this literature has provided the conceptual foundations for an equally voluminous literature on aggregate social welfare. In this essay, I argue that substantial portions of both bodies of literature ought to be viewed as philosophical manifestations of a characteristically modern illusion—the illusion, in particular, that there is a special kind of goodness that is irreducibly person-relative. Theories that are built upon this idea suffer (...) from a recurring defect. Such theories relativize welfare to subjective states that are wholly unsuited to settling deliberative questions concerning what it would be good for us to do, because they themselves are subjective outlooks on value and their dependability is itself fair game for deliberative review. They are unstable, then, in the course of first-person deliberation, which is precisely where they are supposed to have their primary application. The idea of an irreducibly person-relative kind of goodness is of modern vintage, and its rise has distorted prevailing interpretations of pre-modern alternatives, including the appealing alternative found in Plato and Aristotle. A further objective of this essay is to recover this alternative, bring out its appeal, and answer some possible objections to it. (shrink)