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Aristotle notes that, while it is in principle possible to be under-indulgent, as it were, these people “are hardly found”. This is a perfect case in which Aristotle sacrifices theoretical neatness (i.e. two vices for every virtue) for simple observation. That is to say, while it would make sense for his theory if people were both over and under-indulgent, it is simply not the case in practice.
Aristotle, Nichomachean Ethics, Book IV