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Shaftesbury is famous for claiming that “Beauty and Good” are “one and the same.” This claim is central to Shaftesbury’s philosophy, and it exerted great influence on eighteenth- and nineteenth-century European thought. At the same time, the claim has long been criticized as being ill-conceived, unclear, and confused. I explicate the meaning of Shaftesbury’s claim and show that it is not susceptible to many of the long-standing criticisms that have been leveled at it. In its canonical form in The Moralists, the beauty-good claim is intelligible, and Shaftesbury has cogent reasons for advancing it.