economy

Definition of economy

e`con´o`my   Pronunciation: ė`kǒn´ô`mŷ
n.1.The management of domestic affairs; the regulation and government of household matters; especially as they concern expense or disbursement; as, a careful economy.
Himself busy in charge of the household economies.
- Froude.
2.Orderly arrangement and management of the internal affairs of a state or of any establishment kept up by production and consumption; esp., such management as directly concerns wealth; as, political economy.
3.The system of rules and regulations by which anything is managed; orderly system of regulating the distribution and uses of parts, conceived as the result of wise and economical adaptation in the author, whether human or divine; as, the animal or vegetable economy; the economy of a poem; the Jewish economy.
The position which they [the verb and adjective] hold in the general economy of language.
- Earle.
In the Greek poets, as also in Plautus, we shall see the economy . . . of poems better observed than in Terence.
- B. Jonson.
The Jews already had a Sabbath, which, as citizens and subjects of that economy, they were obliged to keep.
- Paley.
4.Thrifty and frugal housekeeping; management without loss or waste; frugality in expenditure; prudence and disposition to save; as, a housekeeper accustomed to economy but not to parsimony.
Political economy
See under Political.
I have no other notion of economy than that it is the parent to liberty and ease.
- Swift.
The father was more given to frugality, and the son to riotousness [luxuriousness].
- Golding.

Related Words

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