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Subject: Economics

Economics

Years: 400 - Now
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek oikonomia, "management of a household, administration", from oikos, "house" + nomos, "custom" or "law"), hence "rules of the house(hold)". Political economy is the earlier name for the subject, but economists in the latter 19th century suggest 'economics' as a shorter term for 'economic science' that also avoids a narrow political-interest connotation and as similar in form to 'mathematics', 'ethics', and so forth.

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“One cannot and must not try to erase the past merely because it does not fit the present.”

― Golda Meir, My Life (1975)