 It is occasionally claimed that certain ancient ethical theories, such as Aristotle’s, result in the collapse of the very notion of well-being. On Aristotle’s view, if you are my friend, then my well-being is closely bound up with yours. It might be tempting, then, to say that ‘your’ well-being is ‘part’ of mine, in which case the distinction between what is good for me and what is good for others has broken down. But this temptation should be resisted. Your well-being concerns how well your life goes for you, and we can allow that my well-being depends on yours without introducing the confusing notion that my well-being is constituted by yours. There are signs in Aristotelian thought of an expansion of the subject or owner of well-being. A friend is ‘another self’, so that what benefits my friend benefits me. But this should be taken either as a metaphorical expression of the dependence claim, or as an identity claim which does not threaten the notion of well-being: if you really are the same person as I am, then of course what is good for you will be what is good for me, since there is no longer any metaphysically significant distinction between you and me.