Albert Barnes Commentary Ecclesiastes 7:1

"A [good] name is better than precious oil; and the day of death, than the day of one`s birth." — Ecclesiastes 7:1 (ASV)

Name ... ointment - The likeness between reputation and odor supplies a common metaphor: the contrast is between reputation, as an honorable attainment which only wise people win, and fragrant odor, as a gratification of the senses which all people enjoy.

The connection of this verse with the preceding verses is this: the man who wants to know what is profitable for man and good in this life is here told to act in such a way as ordinarily secures a good reputation (i.e., to act like a wise man), and to teach himself this hard lesson - to regard the day of death as preferable to the day of birth.

Though Solomon seems in some places to feel strongly (Ecclesiastes 2:16; Ecclesiastes 3:19–20 and following) that natural fear of death which is, in a great measure, mistrust founded on the ignorance which Christ dispelled, yet he states the advantage of death over life in respect of its freedom from toil, oppression, restlessness (Ecclesiastes 2:17; Ecclesiastes 4:2; Ecclesiastes 6:5), and in respect of its implying an immediate and a nearer approach to God (Ecclesiastes 3:21; Ecclesiastes 12:7).

While Solomon preferred the day of death, he might still (with Luther here) have regarded birth as a good thing, and as having its place in the creation of God.