The Theory of Moral Sentiments by Adam Smith

The most ancient of those systems which make virtue consist in prudence, and of which any considerable remains have come down to us, is that of Epicurus, who is said, however, to have borrowed all the leading principles of his philosophy from some of those who had gone before him, particularly from Aristippus; though it is very probable, notwithstanding this allegation of his enemies, that at least his manner of applying those principles was altogether his own.

According to Epicurus (Cicero De finibus, lib. I Diogenes Laert. 1. X) bodily pleasure and pain were the sole ultimate objects of natural desire and aversion. That they were always the natural objects of those passions, he thought required no proof. Pleasure might, indeed, appear sometimes to be avoided; not, however, because it was pleasure, but because, by the enjoyment of it, we should either forfeit some greater pleasure, or expose ourselves to some pain that was more to be avoided than this pleasure was to be desired. Pain, in the same manner, might appear sometimes to be eligible; not, however, because it was pain, but because by enduring it we might either avoid a still greater pain, or acquire some pleasure of much more importance. That bodily pain and pleasure, therefore, were always the natural objects of desire and aversion, was, he thought, abundantly evident. Nor was it less so, he imagined, that they were the sole ultimate objects of those passions. Whatever else was either desired or avoided, was so, according to him, upon account of its tendency to produce one or other of those sensations. The tendency to procure pleasure rendered power and riches desirable, as the contrary tendency to produce pain made poverty and insignificancy the objects of aversion. Honour and reputation were valued, because the esteem and love of those we live with were of the greatest consequence both to procure pleasure and to defend us from pain. Ignominy and bad fame, on the contrary, were to be avoided, because the hatred, contempt, and resentment of those we lived with, destroyed all security, and necessarily exposed us to the greatest bodily evils.