It seems rather circular to say that “good” in the Bible represents good, but in a general sense it's true! The case is this: The Lord is love itself given form and expression as wisdom itself, and that Divine Love and Divine Wisdom flow down into us, into the world and into the Bible in an unending stream with endless variety. Divine Love gives rise to our loves, our affections, our desires for good and the joy we can feel; Divine Wisdom gives rise to facts, knowledge, intelligence, understanding and human wisdom. And the more we can bring those two aspects of our lives into harmony, the more elevated we can become -- which will in turn make us happier, more useful, and ultimately more angelic.

In the Bible, things that are lower down, or under, physically, generally represent things that are lower or more external spiritually. In some cases, the lower things have been separated and put away to protect the good, but in others, it can mean that a less exalted idea or good desire is supporting a more exalted one.

(References: Arcana Coelestia 4564 [1-2], 8610, 9656)