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Meaning of the word ECONOMY
Posted By Ron On March 18, 2009 @ 12:09 AM In Business,Credit,Debt,Money | Comments Disabled
When I first read the origin of the word, I just had to laugh. We have strayed so far from it’s original meaning …
The word “economy” originated as a combination of Greek words: “oikos” which means “house” and “nemos” meaning “to manage.” The meaning would translate: to manage your house or to manage your affairs.
Today, we use terms like “economy of scale” or “economy of scope.” In those cases, it refers to the efficient or frugal use of resources.
My, my, my, how far we have strayed.
Does anyone think that our elected officials have managed our affairs in the most efficient way possible? Regardless of party affiliation, we’ve entrusted the affairs of our national house to a group of people that don’t know the meaning of the word ECONOMY.
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