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Economics
Economics is a social science concerned with the factors that determine the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία from οἶκος (oikos, "house") and νόμος (nomos, "custom" or "law"), hence "rules of the house (hold for good management)". 'Political economy' was the earlier name for the subject, but economists in the late 19th century suggested "economics" as a shorter term for "economic science" to establish itself as a separate discipline outside of political science and other social science
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“
In regards to the price of commodities, the rise of wages operates as simple interest does, the rise of profit operates like compound interest.
Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.
”
― An Inquiry into the Nature and Causes of the Wealth of Nations
― An Inquiry into the Nature and Causes of the Wealth of Nations
“
1 billion people in the world are chronically hungry. 1 billion people are overweight.
”
― Food Matters: A Guide to Conscious Eating with More Than 75 Recipes
― Food Matters: A Guide to Conscious Eating with More Than 75 Recipes
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Tags contributing to this page include: economics, economic, economics-and-finance, economics-finance, finance-and-economics, finance-econ, finance-economics, and finance-economy
