Russell, as an empiricist about ethics, can coherently hold that 'good' rigidly designates a natural property whose identity with goodness is a substantive discovery, not a conceptual truth.
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conceptual truth(Distinction between the modal status of 'ought' implies 'can' as conceptual versus substantive)
A principle whose truth is guaranteed by the meanings of the concepts involved, as opposed to a substantive normative principle that makes a claim about what agents ought to do
substantive discovery(as used in epistemology (the study of knowledge))
A discovery that reveals something real and important about the world, not just something trivial or obvious from the definition of words alone.