{"id":1,"date":"2026-06-28T15:05:26","date_gmt":"2026-06-28T15:05:26","guid":{"rendered":"https:\/\/thesilenteconomist.co.uk\/?p=1"},"modified":"2026-08-28T12:09:19","modified_gmt":"2026-08-28T12:09:19","slug":"hello-world","status":"publish","type":"post","link":"https:\/\/thesilenteconomist.co.uk\/?p=1","title":{"rendered":"Origin of the word – Economics"},"content":{"rendered":"\n

The modern English word Economics<\/strong> derives from the Greek word – Oikonomia<\/strong>.<\/p>\n\n\n\n

Oikonomia itself is a combination of two Greek works<\/p>\n\n\n\n

“Oikos<\/strong><\/em>” and “Nomos<\/em><\/strong>“<\/p>\n\n\n\n

Oikos — meaning more or less the household or family estate — and Nomos, which can mean rules, natural laws or laws made by the government, but which in this case primarily means “wise laws” or “rules of thumb.”<\/p>\n\n\n\n

\"Image
Xenophon<\/figcaption><\/figure>\n\n\n\n

Thus the book Oikonomia,<\/em> by the Greek author Xenophon, is probably best translated as “rules of thumb for estate management.”<\/p>\n\n\n\n

Xenophon was a soldier who became one of the most influential authors from this ancient world.<\/p>\n\n\n\n

In his book he developed some key ideas including<\/p>\n\n\n\n

    \n
  • Wealth depends on use, not possession.<\/strong> Something is truly wealth only if a person knows how to use it beneficially. A horse, land, or money can be an asset or a burden depending on the owner’s knowledge and judgment.<\/li>\n\n\n\n
  • Management is a skill.<\/strong> Household administration as a form of expertise that can be learned and applied. <\/li>\n\n\n\n
  • Agriculture is the ideal occupation.<\/strong> Farming is praised as being both profitable and morally beneficial.<\/li>\n\n\n\n
  • Leadership and organization matter.<\/strong> A good manager motivates workers, organizes resources, and creates order. <\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    The modern English word Economics derives from the Greek word – Oikonomia. Oikonomia itself is a combination of two Greek works “Oikos” and “Nomos“ Oikos — meaning more or less the household or family estate — and Nomos, which can mean rules, natural laws or laws made by the government, but which in this case […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[8,6,7,5],"class_list":["post-1","post","type-post","status-publish","format-standard","hentry","category-economist","category-xenophon","tag-economic-thinking","tag-economics","tag-economist","tag-origin"],"_links":{"self":[{"href":"https:\/\/thesilenteconomist.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thesilenteconomist.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thesilenteconomist.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thesilenteconomist.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thesilenteconomist.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1"}],"version-history":[{"count":3,"href":"https:\/\/thesilenteconomist.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1\/revisions"}],"predecessor-version":[{"id":37,"href":"https:\/\/thesilenteconomist.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1\/revisions\/37"}],"wp:attachment":[{"href":"https:\/\/thesilenteconomist.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thesilenteconomist.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thesilenteconomist.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}