271. Economics – Wikipedia
September 21, 2009 § Leave a comment
Here is the problem.
Economics is the social science that studies the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία oikonomia, “management of a household, administration” from οἶκος oikos, “house” + νόμος nomos, “custom” or “law”, hence “rules of the household”. Current economic models developed out of the broader field of political economy in the late 19th century, owing to a desire to use an empirical approach more akin to the physical sciences.
Economics avoids ownership and wealth, even if its key root is household.