economist etymology

Etymology and Meaning of "Economist"

The term "economist" is derived from two Greek roots:

  • "oikos" (οἶκος): meaning "house" or "household"
  • "nomos" (νόμος): meaning "law" or "order"

Therefore, the original meaning of "economist" refers to someone who manages the affairs of a household or household finances.

Over time, the term has evolved to have a broader meaning, referring to:

  • Someone who studies economic theory and principles
  • Someone who applies economic principles to real-world situations
  • A person who provides advice on economic policy and decision-making

Origin of the Term

The first known use of the term "economist" in English appeared in 1776 in Adam Smith's seminal work, "An Inquiry into the Nature and Causes of the Wealth of Nations." In his book, Smith used the term to describe the "political economists," who were philosophers and scholars who studied the principles that govern the production, distribution, and consumption of wealth in society.

In the late 18th and early 19th centuries, "economist" became increasingly used to refer to professional scholars and experts who specialized in the study of economics. It was not until the late 19th century that the term became more widely associated with people who worked in the field of applied economics, such as economists in government, business, and finance.

economist relate terms

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