Well, it requires a lot of qualifications and nuances to be added, but not a bad starting point. Certainly for the life of an individual, living in moderately stable nation states, it makes every sense as a source of happiness.

But Aristotle of course, for example, could never have foreseen that humans might one day, have the power to destroy the living world with our waste, or weapons of mass destruction for use on other people. So that one day, we would have in our hands, the power to do things so horrible, that no opposition to the doing of them could be termed immoderate.