The word “economy” comes from the Greek word “oikonomia” (οἰκονομία), which originally meant “household management.”
Here’s the breakdown:
- “oikos” (οἶκος) = house, household
- “nomos” (νόμος) = law, custom, or management
So, “oikonomia” literally means “management of the household” or “household law.”
Over time, the meaning expanded from managing a home or estate to managing resources at a larger scale — like a city, nation, or even the entire world.
By the 15th century in English, “economy” began to take on its modern meaning of the management and organization of wealth, resources, and production
DANTE SISOFO · · dantesisofo.com/economy/
