phl
[1] Every craft and every line of inquiry, and likewise every action and choice of pursuit, seems to aim at some good. And for this reason the good is rightly described as that at which all things aim.
[2] But the ends we aim at seem to differ: some are themselves activities, and others are products that lie beyond the activities that produce them. Where these ends lie beyond the actions, the products are by nature more important than their producing activities.
[3] Now, as there are many actions, crafts, and sciences, their ends or goals also turn out to be many as well. For instance, health is the end of medicine, a boat is the end of shipbuilding, victory is the end of military strategy, and wealth is the end of household management.
[4] But some of these pursuits fall under a single capacity. Thus, bridle-making and the other crafts involved in producing equipment for horses fall together under the art of horsemanship. And horsemanship and every other action of warfare fall under military strategy. In the same way other arts fall under yet further ones.
[5] In all of these, the ends of the overarching pursuit are more worthy of choice than all the subordinate ends. After all, it is for the sake of the ends of the overarching pursuit that we pursue the subordinate ends. Here, then it makes no difference whether the end of an activity is the activity itself, or whether it is something else that lies beyond the activities, as is the case with the pursuits we just mentioned. 2. [6] Suppose, then, there is some end to the things we do that we desire for its own sake and desire everything else for the sake of this.
[7] Suppose further that we do not choose everything for the sake of yet something else, because if we did, then the process would go on to infinity and our desire would be empty and futile.
[8] Clearly, then, this end [that is pursued for its own sake and not for the sake of anything else] would have to be the Good, that is, the highest good.
(This is my translation above, so differs a bit from other published translations, though I hope it’s clearer than many. Also I’ve added the numbers in the square brackets for ease of reference.)