And in fact statesmanship and prudence are the same faculty, though they are differently manifested.

Of this faculty in its application to the state the supreme form is the legislative faculty, but the special form which deals with particular cases is called by the generic name statesmanship. The field of the latter is action and deliberation; for a decree directly concerns action, as the last link in the chain. 149 And on this account those engaged in this field are alone said to be statesmen, for they alone act like handicraftsmen.

But it is when applied to the individual and to one’s own affairs that this faculty is especially regarded as prudence, and this is the form which receives the generic name prudence or practical wisdom (the other forms being (1) the faculty of managing a household, (2) the legislative faculty, (3) statesmanship [in the narrower sense], which is subdivided into (a) the deliberative, (b) the judicial faculty).