economicn.adj.

Brit.

/ˌiːkəˈnɒmɪk/,

/ˌɛkəˈnɒmɪk/, U.S.

/ˌɛkəˈnɑmɪk/,

/ˌikəˈnɑmɪk/

Forms: Middle English economike, Middle English economyk, Middle English iconomique, Middle English iconomyke, 1500s–1600s economicke, 1500s–1600s oeconomicke, 1500s–1600s oeconomike, 1500s–1700s economick, 1500s–1700s oeconomick, 1600s aeconomick, 1600s economique, 1600s– economic, 1600s– oeconomic (now rare); also Scottish pre-1700 oeconomick, pre-1700 oeconomike.

Origin: Of multiple origins. Partly a borrowing from French. Partly a borrowing from Latin. Etymons: French economique; Latin oeconomicus.

Etymology: < (i) Middle French yconomique, iconomique, oecunomique, French économique, †oeconomique (noun) art or science of household management (c1265 in Old French), person responsible for expenditure in a household (1596 as economic in apparently isolated use), person who understands the art of household management (1553 in the passage translated in quot. 1593 at sense A. 1b), (adjective) relating to domestic or family matters, relating to the management of a household (c1370), which reduces costs or expenses (1794), relating to the management of a state (1803), and its etymon (ii) classical Latin oeconomicus (in post-classical Latin also economicus, yconomicus) relating to the orderly arrangement of material by an author, in post-classical Latin also of or relating to (the management of) a household (from a1345 in British sources; but compare classical Latin use as noun as a work title mentioned below), (noun) manager of a household, housekeeper, steward (probably from 7th cent. (in an 11th-cent. copy) in British sources), also (as either feminine singular or neuter plural noun, economica) economics, art of managing a household (from 1241 in British sources) < ancient Greek οἰκονομικός practised in the management of a household or family, thrifty, frugal, economical, in Hellenistic Greek also relating to the orderly arrangement of material by an author < οἰκονόμος (see economy n.) + -ικός -ic suffix. Compare Spanish económico (15th cent.), Italian economico (1550). With use as adjective compare earlier economical adj. With use as noun compare also classical Latin oeconomicus, title of a (Greek) treatise by Xenophon on household management, ancient Greek ἡ οἰκονομική (feminine, short for ἡ οἰκονομικὴ τέχνη) domestic economy, husbandry, ὁ οἰκονομικός (masculine), title of a treatise by Xenophon on household management, τὰ οἰκονομικά (neuter plural), title of a treatise ascribed to Aristotle on public finance.Compare also Middle French, French économe oeconomus n., also as adjective: (of a person) mindful or careful of expense, moderate in expenditure (1690; 1810 in figurative use). The pronunciation with short initial vowel was probably the original one in English, the pronunciation with long initial vowel (which is found from the early modern period onwards) being due to the influence of the contemporary pronunciation of Latin words with oe : compare E. J. Dobson Eng. Pronunc. 1500–1700 (ed. 2, 1968) II. §23. With sense A. 1b compare earlier, apparently isolated, icononucar (probably < post-classical Latin yconomicus + -er suffix¹):1523 J. Skelton Goodly Garlande of Laurell sig. Bi Esiodus the I cononucar And homerus the fresshe historiar.

†A. n.

a. The art or science of household management, esp. with regard to the proper organization of domestic resources; domestic economy, housekeeping. Cf. economics n. 1. Obsolete.

ΘΚΠ

society > authority > control > [noun] > management or administration > domestic management

housewifeship?c1225

cove and keyc1250

husbandryc1300

economica1393

ménagea1393

householda1398

householdinga1425

housewifery1440

economyc1454

economics1535

house rule1579

householdry1581

managery1586

housekeeping1652

household management1741

notability1756

homebuilding1757

domestic economy1778

Wirtschaft1841

homekeeping1846

housecraft1848

homemaking1863

home economics1872

home science1886

household science1896

domestic science1897

a1393 J. Gower Confessio Amantis (Fairf.) vii. 1670 That other point which to Practique Belongeth is Iconomique.

1481 tr. Cicero De Senectute sig. f5 The book of Economike, wherin [Xenophon]..declareth how the man ought to gouerne kepe & approwe his owne propre londys and goodys.

1623 C. Butler Feminine Monarchie (rev. ed.) v. sig. K4 As well in Musick as Oeconomick, there must sometime be Discords.

1656 T. Stanley Hist. Philos. iii. xvii. 156 Arts they did not expell out of Cities..no more than they would drive Oeconomick out of Houses.

b. Someone who understands the art of household management. Obsolete. rare.

ΘΚΠ

society > authority > control > person in control > [noun] > manager or administrator > of a household

economist1586

economic1593

1593 A. Munday tr. C. Estienne Def. Contraries 26 If those Philosophers or Oeconomikes [Fr. economicques] of times past [sc. Aristotle and Xenophon], were at this daie present to see, how these huswiues gouerne and content each one:..they might learne of them new preceptes & instructions.

1656 J. Trapp Comm. Eph. i. 10 God is the best economic; his house is exactly ordered for matter of good husbandry.

2. Church History. [after Italian economo (a1580; 1619 in the passages translated in quots. 1620¹, 1620²) < post-classical Latin œconomus oeconomus n.] An administrator of the revenues of a vacant benefice. Obsolete.

ΘΚΠ

society > faith > worship > benefice > [noun] > one who administers revenues of vacant benefices

economic1620

1620 N. Brent tr. P. Sarpi Hist. Councel of Trent vii. 654 There beeing a suit for a benefice, an Economique [It. vn Economo] may bee created.

1620 N. Brent tr. P. Sarpi Hist. Councel of Trent viii. 788 The Episcopall Sea being voide, the Chapter shall elect one or two Economickes [It. vno, ò più Economi].

B. adj.

†a. Of or relating to household management, or to the ordering of private affairs; domestic. Cf. economical adj. 1a. Obsolete.

ΘΚΠ

society > authority > control > [adjective] > relating to management or administration > relating to household management

economicalc1487

economic1599

notable1787

1599 J. Davies Nosce Teipsum 40 Doth employ her œconomicke Art..her houshold to preserue.

1603 J. Florio tr. M. de Montaigne Ess. i. xxxiv. 111 In this Oeconomicke or housholde order.

1627 M. Drayton Elegies in Battaile Agincourt 211 A man..of naturall goodnesse..whose courses..serue me for Oeconomike booke.

1650 J. Row & J. Row Hist. Kirk Scotl. (1842) 193 Imploying them in oeconomick & naturall morall duties.

1669 T. Gale Court of Gentiles: Pt. I iii. i. 17 Oeconomic Poesie..also..Politic Poesie..had their Original from Moses's Oeconomics, and Politics.

1704 Reply to Let. Aug. 15 35 in H. Layton Arguments & Replies Laws Oeconomick, being those of the Master and his Family.

1748 R. Shiells Marriage 34 Go learn the comely œconomic Arts, and treasure in your Souls her Precepts sweet.

1791 W. Cowper tr. Homer Odyssey in Iliad & Odyssey II. xix. 408 That I in wisdom œconomic aught Pass other women.

b. Of or relating to the management of domestic or private income and expenditure; relating to (personal) monetary considerations, financial. Cf. economical adj. 1b.

ΘΚΠ

society > trade and finance > management of money > [adjective] > private

economic1834

1834 T. Carlyle Sartor Resartus ii. iv, in Fraser's Mag. Feb. 193/1 Landlords' Bills, and other economic Documents.

1851 T. Carlyle Life J. Sterling i. ix. 82 His outlooks into the future, whether for his spiritual or economic fortunes, were confused.

1907 Publ. Mod. Lang. Assoc. Amer. 22 110 His theory was..definitely related to the literary occupations to which, thro the pressure of economic circumstances, he was forced to surrender himself.

1926 E. Paul & C. Paul tr. K. Marx Eighteenth Brumaire of L. Bonaparte vii. 133 In so far as millions of families live in economic circumstances which distinguish their mode of life, their interests, and their culture, from those of other classes, and make them hostile to other classes, these peasant families form a class.

1969 D. R. Cressey Theft of Nation x. 233 It took five years and a considerable number of ‘sit-downs’ for him to regain his economic status.

1984 A. Oakley Taking it like Woman (1985) 71 I disliked my economic dependence and its connotation of secondariness, of belonging to someone else and not to myself (and we did need more money).

1995 Briarpatch Mar. 8/2 Women in dire economic circumstances in Saskatchewan still have a choice between social assistance and the low-waged job.

a. Theology. Of or relating to the method of divine government of the world (esp. of humankind) (see economy n. 5a); spec. relating to or following a dispensation or method of divine government suited to the needs of a particular nation or period of time (cf. economy n. 5b). Cf. economical adj. 2a.

ΚΠ

1655 S. Rutherford Covenant of Life Opened ii. xii. 364 Christs rendering of the Kingdome dispensatory or Oeconomick to the Father may well be a rendering of an account of his subjects.

1761 J. Stonhouse Universal Restitution 46 Damnation is œconomic and salutary.

1845 G. S. Faber Eight Diss. I. i. iii. 31 Jacob gives to this agent his..economic title of The Angel.

1911 H. B. Workman Christian Thought to Reformation iv. 105 With Tertullian the Trinity, an economic not immanent necessity, ‘is our name for God in movement or self-manifestation’.

1974 J. Pelikan Christian Trad. iv. 194 Other economic terms, such as the ‘pouring out’ or the ‘conferring’ of the Holy Spirit, were said to be applied to the Son in the New Testament because the Holy Spirit proceeded from both Father and Son.

2005 T. L. Inbody Faith of Christian Church 104 The economic doctrine of the Trinity, or the ‘Trinity of manifestation’, however is not merely a statement about our experience.

†b. Relating to the proper government or organization of a community or other body. Obsolete.

ΚΠ

a1734 R. North Examen (1740) iii. 158 There is added, in the printed Narrative, an œconomic Scheme of the whole Contrivance, by Way of Synopsis.

1768 Ann. Reg. 1767 185 Making use of that supreme, oeconomic authority which the almighty has lodged in my hands for the protection of my subjects.

?1791 W. Kendall tr. G. Filangieri Science of Legislation xvi. 198 The most inconsiderable variation in these circumstances may produce an astonishing diversity in the interests of nations: whole systems of economic legislation must consequently differ.

a. Esp. of a person: characterized by thrift (sometimes, parsimony); careful in the management of financial resources; saving, sparing; = economical adj. 3. Also in extended use. Now somewhat rare.

ΘΚΠ

the mind > possession > retaining > sparingness or frugality > [adjective] > thrifty or economical

housewifely1526

thrifty1526

compendious1584

economical1601

stewardly1746

managing1753

economic1755

1755 H. Walpole Mem. George II II. 96 We should be economic.

1763 Let. Earl Halifax on Peace 25 Some men..think, that there is as much reason to be just and œconomic in the distribution and management of public finances as of private patrimony.

1793 Assoc. Preserving Liberty against Republicans i. 11 The Taxes are..only for the support of a very œconomic Government.

1801 M. Edgeworth Belinda I. vi. 183 I never saw any one..so economic of her smiles.

1821 S. T. Coleridge Coll. Lett. (1971) V. 140 Day after day I see them so generous, so high-hearted, & yet so industrious, self-denying, and economic.

1861 Times 23 Oct. 7/6 He disgusted the economic members of the House by reading the sums paid to Parliamentary agents.

1903 Times 7 Nov. 14/5 They [sc. the Germans] are a thrifty, economic people.

b. Characterized by or tending to economy in the use of resources; efficient, not wasteful. Cf. economical adj. 3 and uneconomic adj. 2a.

ΚΠ

1794 Mrs. Fulhame Ess. Combustion ii. 56 A small glass tube..I found useful, and economic, especially in experiments on gold... A great number of experiments can be made on a single grain.

1807 T. Young Course Lect. Nat. Philos. I. xxvi. 315 The peculiar circumstances of the case may indicate to an ingenious artist a mode of performing the required work in an effectual and economic manner.

1823 New Eng. Farmer 2 9 The most expeditious, effectual, and economic mode of making a drain would undoubtedly be to use oxen, and a scraper.

1881 Science Nov. 526/1 Electricity..is an economic method which can produce very slow as well as very rapid motion.

1904 Sci. Amer. Suppl. 57 23438/3 (title) Aerial tramways as an economic means of transportation.

1946 Nature 10 Aug. 194/1 Radio-frequency heating is not an economic proposition for heating stable liquids.

1978 Jrnl. Royal Soc. Arts 126 657/2 The European A300 B airbus which is proving very economic here.

2006 Daily Tel. (Sydney) (Nexis) 26 June (State ed.) 7 While some [motorists] said they are switching to more economic cars, young drivers said they were delaying buying their own cars because of petrol prices.

c. = economical adj. 5. (See etymological note at economy n.).

ΘΚΠ

society > faith > aspects of faith > doctrine > [adjective] > economic

economical1833

economic1851

1815 J. C. Hobhouse Substance Lett. (1816) I. 11 That species of writing called by Voltaire, the œconomic style, or an expedient falsification of facts.

1851 F. W. Robertson Serm. (1863) 4th Ser. vi. 34 His economic management of Truth. I use this word though it may seem pedantic.

1991 Time Out 13 Mar. 29/2 He has..an enormous ability to be economic with the truth.

d. Business. Commercially advantageous or expedient; (of a business enterprise) repaying (at least) the expenses of operation or use; solvent or profitable.

ΘΚΠ

society > trade and finance > management of money > income, revenue, or profit > getting or making money > [adjective] > profitable

winning1435

lucrous1511

beneficial1526

lucrative1526

gainful1561

profitful1568

gainsome1579

profiting1590

requiteful1607

pennisome1631

lucriferous1648

opulent1648

emolumental1664

quick1681

well-metalleda1734

pay-rent1742

profitable1758

emolumentary1775

remunerative1813

economical1815

repaying1820

well-paying1832

benefited1837

paying1841

payable1855

money-making1887

economic1899

bankable1927

megadollar1963

money-spinning1973

1899 G. Gunton Trusts & Public xi. 146 Capital as a tool should be secured as cheaply as possible, and used as long as possible, and thrown away as soon as it ceases to be economic.

1943 W. H. Hutt Plan for Reconstruction 122 The production..remains diffused (in many separate plants, in a manner which is no longer economic).

1950 Introd. Aluminium & its Alloys (Aluminium Federation) 23 This process..becomes economic when quantities of the order of 1,000 or more castings are required.

1973 E. F. Schumacher Small is Beautiful i. iii. 46 Economics..supplies the criteria of what is ‘economic’ and what is ‘uneconomic’.

1988 M. Bradbury Unsent Lett. 70 Being a commercial writer in Britain, he explained, was simply not economic.

1999 Independent 8 July i. 9/8 A report sponsored by the trusts and the WWF..claims that in parts of England it is simply not economic to hold back the sea with concrete sea walls.

a. Of, relating to, or concerned with the science of economics or with the economy in general (economics n. 2, economy n. 11); relating to the development and regulation of the material resources of a community or state. Cf. economical adj. 4a, politico-economic adj., and socio-economic adj.European Economic Community: see European adj. 5b.

ΘΚΠ

society > trade and finance > management of money > management of national resources > [adjective]

economical1781

politico-economicala1790

economic1815

politico-economic1839

plutonomic1860

economistic1873

plutological1920

1815 Times 13 Jan. 3/5 In consequence of the tranquil state of India, and the general economic system, the military establishment has been..much reduced.

1835 I. Taylor Spiritual Despotism ii. 70 The economic experiment.

1863 H. Fawcett Man. Polit. Econ. i. iv. 35 Principles which will enable us to investigate economic problems.

1865 J. G. Bertram (title) The harvest of the sea. A contribution to the natural and economic history of the British food fishes.

1883 Manch. Examiner 22 Nov. 5/3 M. Leroy-Beaulieu..one of the ablest writers on economic subjects.

1901 Speaker 20 July 450/1 Academism is all very well, but..it too often muffles the hammer of criticism, which ought to hit the nails of economic theory hard and on the head.

1927 C. A. Beard & M. R. Beard Rise Amer. Civilization I. xii. 565 Webster did not overlook mundane considerations—the economic and political substance of the pending issue, the sale of those annoying western lands.

1943 Amer. Hist. Rev. 48 853 No suggestion of social problems, economic policy, or scientific ferment appears.

1962 H. G. Johnson Canada in Changing World Econ. 49 The presence of government as a taxer and spender and as a major debtor tends by itself to reduce the rate of economic growth below the socially optimal rate.

1976 F. Zweig New Acquisitive Society i. v. 57 The rapidly growing ‘pressure group’ movement..definitely leads to politicization of economic life.

2006 D. Winner Those Feet 113 How should British decline be defined and measured? Could it have been reversed? Is it relative economic failure that bothers us?

b. Of a subject or discipline: studied from a practical, material, commercial, or utilitarian standpoint, as economic botany, economic geography, etc. Cf. economical adj. 4c.

ΘΚΠ

the world > action or operation > advantage > usefulness > [adjective] > practically useful

practical1642

economic1839

1839 H. T. De la Beche Rep. Geol. Cornwall 461 (heading) Economic geology, under the Department for Woods and Public Works.

1853 T. C. Archer (title) Popular Economic Botany; or, Description of the botanical and commercial characters of the principal articles of vegetable origin, used for food, clothing, tanning, dyeing, building, medicine, perfumery, etc.

1861 Jrnl. Soc. Arts 22 Mar. 295 (heading) The Economic History of Paraffine.

1873 Amer. Naturalist 7 544 A description of it will not be out of place in a report on economic entomology, as some members of the group to which it belongs are known to be destructive.

1914 J. McFarlane Econ. Geogr. 1 Economic Geography may be defined as the study of the influence exerted upon the economic activities of man by his physical environment.

1959 N.Z. Timber Jrnl. Apr. 52/2 Economic Forestry..is directed mainly towards marketing and utilization of forest products.

1994 Denver Post 8 Feb. c4/2 A two-year contract with the Bureau of Economic Geology..for petrophysical analysis for two gas fields.

2004 Univ. Oxf. Bot. Garden News Summer 3/1 Exploitation saw botanic gardens and economic botany as central to the manipulation of the rest of the world by the Great Nations of Europe.

c. Relating to the generation of income; maintained for the sake of profit; = economical adj. 4b. rare.

ΚΠ

1854 C. D. Badham Prose Halieutics 36 The advantages to be derived from economic fish-ponds.

1947 D. Wyman Arboretums & Bot. Gardens N. Amer. 456 The gardens are extensive and include an annual garden, a perennial garden, an alpine garden, an economic garden.

1993 Jrnl. Biogeography 20 506/1 Approximately one per cent of the forested land is used for protection and economic forests, Juglans (walnuts), Zanthoxylon (Chinese prickly ash), Vernicia fordii (tung oil) and fruit trees.

Compounds

economic and monetary union n. (the implementation of) a single market, monetary policy, and currency shared by a number of nations or states (now esp. in the European Union); cf. EMU n. at E n.¹ Initialisms.

ΘΚΠ

society > authority > rule or government > politics > international politics or relations > international agreements > [noun] > customs union or common market

customs union1834

common market1843

economic and monetary union1922

Western European Union1944

1922 N.Y. Times 28 Aug. 18/4 The..expected, but almost impossible, request for economic and monetary union between the two countries.

1946 Lethbridge (Alberta) Herald 2 Oct. 1/2 He submitted a Yugoslav proposal providing for economic and monetary union between the Free State and Yugoslavia.

1969 Times 3 Dec. 5/7 The heads of state or government..agreed that..a plan in stages should be worked out during 1970 with a view to the creation of an economic and monetary union.

1993 Guardian 29 Oct. i. 1/5 He said their continuing support for the Maastricht programme for economic and monetary union was like recitation of a mantra.

2003 O. Abegunrin Nigerian Foreign Policy under Mil. Rule iv. ix. 147 The francophone countries were more actively involved in the affairs of a parallel economic union, the West African Economic and Monetary Union (UMEOA).

economic adviser n. (also economic advisor) a person who advises (a government, etc.) on economic policy.

ΘΚΠ

the mind > attention and judgement > judgement or decision > advice > [noun] > adviser or counsellor > other types of

preconsultor1609

co-assessor1644

adviser1752

legal adviser1788

pagati1803

legal advisor1825

investment adviser1853

referendary1876

tipster1884

economic adviser1907

1907 Washington Post 2 Oct. 6/7 R. C. Whitenack, economic adviser to the state of Baroda.

2003 Los Angeles Times (Nexis) 14 Aug. 9 ‘I firmly believe that what we have done was the absolute right course of action,’..Bush told reporters after meeting with his top economic advisors.

2011 G. F. DeMartino Economist's Oath v. 73 In her role as economic advisor she is to serve as a neutral technocrat who serves those with the authority to decide.

economic blizzard n. a severe recession or slump in an economy.

ΚΠ

1930 Times 26 May 9/3 A very grim thing had happened: the Socialist Government had run straight into the worst economic blizzard on record in time of peace.

2003 J. Gillingham European Integration, 1950–2003 xiii. 363 Nokia has withstood the economic blizzard of the past two years.

economic citizenship n. (a) the right or ability to participate fully in a country's economic life; (b) citizenship awarded on the basis of a person's (usually substantial) financial investment in a country.

ΚΠ

1906 Fort Wayne (Indiana) Jrnl.-Gaz. 13 May 16/6 Freemasonry..has already done more in the way of educating men for just economic citizenship than any other institution.

1989 Washington Post (Nexis) 9 Oct. e1 A public desire to stop selling Belizean passports to foreigners under an ‘economic citizenship’ program.

1997 A. Barnett This Time iii. 97 The original theorists of the Welfare State developed a concept of economic citizenship—meaning that there should be full employment and freedom from primary want underwritten by the State.

2000 P. Lilley Dirty Dealing 189 Economic citizenship is available (in other words buying a new passport).

economic climate n. see climate n.¹ 2b.

economic crime n. (a) a grave mistake or act of negligence in the management of an economy; a financial or economic outrage; (b) crime of a financial nature, esp. involving fraudulent activity; an instance of this.

ΚΠ

1868 F. R. Lee & D. Burns Temperance Bible Comm. iii. 4 Could it be shown that alcohol, when imbibed, is neutral as to any sensible effect, its manufacture at the expense of the staff of life would be a vast economic crime.

1916 H. P. Horton tr. W. A. Bonger Criminality & Econ. Conditions ii. ii. ii. 590 While the opportunity to commit violent economic crimes successfully was diminishing, there was a constantly increasing opportunity to commit other economic crimes, such as theft, embezzlement, and fraud.

1951 Denton (Maryland) Jrnl. 6 Apr. 2/1 The government has steadily evaded taking the only actions which can block inflation... That is an economic crime against a misled people.

2005 K. C. Wong & G. Wong in R. Broadhurst & P. Grabosky Cyber Crime iii. 61 Committing economic crime via the Internet, for example theft, blackmail and illegal pyramid sales activity.

economic cycle n. a cycle of alternating periods of economic growth and recession; cf. trade cycle n. at trade n. and adv. Compounds 3, business cycle n. at business n. Compounds 5.

ΘΚΠ

society > trade and finance > [noun] > cycle in trading

economic cycle1832

trade cycle1857

business cycle1858

society > trade and finance > management of money > management of national resources > [noun] > political economy > states or trends of the economy

inflation1821

economic cycle1832

recovery1843

downdraught1852

perfect competition1853

downturn1858

softness1872

slump1888

downtrend1890

sag1891

under-consumption1895

recession1905

downdrift1906

economic recession1908

air pocket1913

stickiness1913

trough1916

deflation1920

downswing1922

slowdown1922

scissors1924

scissors crisis1925

uptrend1926

reflation1932

depresh1933

upswing1934

stagnation1938

countercycle1944

fiscal cliff1957

turn-down1957

stagflation1965

soft landing1973

slumpflation1974

downer1976

1832 T. Chalmers On Polit. Econ. iii. 85 The world of trade may be conceived to revolve in what we shall call an economic cycle.

1879 Jrnl. Statist. Soc. London 42 865 The trade of England was rapidly advancing towards the crisis which terminates the prosperous half of the economic cycle.

1947 Lawton (Okla.) Constit. 19 Dec. 3/1 It would greatly relieve the extremes of the economic cycle of ‘boom and bust’ if creditors and debtors would practice restraint in time of ‘boom’.

2010 Guardian 25 Feb. 28/3 Traded life policy investments..do not suffer the same peaks and troughs as..savings affected by economic cycles.

economic entomology n. the study of insects with regard to their impact on human economy, chiefly in relation to agriculture.

ΚΠ

1852 Proc. Acad. Nat. Sci. Philadelphia 5 6 Economic entomology has been enriched by the discovery by Miss Morris, of a new destroyer of the peach tree.

1883 Manch. Guardian 26 May 8/7 Mr. S. L. Mosley, the recorder of economic entomology for Yorkshire.

1931 Wilson Bull. 43 29 There is hardly anything more characteristic of publications on economic entomology than the remark, after detailing the activities of predators, parasites, and diseases, that none of these can be depended upon for controlling the pests.

2013 W. R. Leach Butterfly People i. 41 His attraction to their beauty kept him there. He would never write a thing on economic entomology.

economic good n. a commodity or service which is sufficiently scarce in relation to demand to command a price.

ΚΠ

1878 J. J. Lalor tr. W. Roscher Princ. Polit. Econ. I. ii. 55 As a rule, with an advance in civilization, there is an increase in the number of goods, which become economic goods.

1979 N.Y. Times Mag. 9 Sept. 16/1 Rationing by price, a system in which economic goods go to the people who are most willing to pay for them.

2000 Q. Jrnl. Econ. 115 138 Health care is an economic good, that is, a scarce resource that cannot be provided to everyone.

economic growth n. the increase in the production of goods and services per head of population over a stated period of time; the rate of expansion of the national income; cf. growth n.¹ 1c.

ΘΚΠ

society > trade and finance > management of money > management of national resources > [noun] > political economy > growth

economic growth1875

growth1952

1875 Times 29 Dec. 3/6 A firm spirit, but the strictest caution, is still our duty until we have the most incontrovertible evidence that the nation has..resumed its full course of economic growth.

1916 Amer. Hist. Rev. 22 157 Economic growth and social progress are inextricably bound up together.

1940 C. G. Clark Condit. Econ. Progress x. 337 (heading) The morphology of economic growth.

1948 Proc. Amer. Philos. Soc. 92 229/2 The economic growth of the United States can thus be defined.

1953 J. Viner Internat. Trade & Econ. Devel. vi. 103 It is not necessary to look for other factors..to explain pervasive poverty and slow economic growth.

1965 Times 17 Feb. 19/6 Economic growth is no longer regarded as the cure-all for the nation's ills.

1985 J. Chrétien Straight from Heart (1986) v. 102 It was an economic requirement at that time to stimulate consumer demand as a means of maintaining economic growth.

2006 N.Y. Rev. Bks. 27 Apr. 21/3 He distinguishes two kinds of economic growth—the ‘Smithian’ variety that reflects Adam Smith's vision in The Wealth of Nations..and a ‘Schumpeterian’ variety that is driven by continuous technological innovation.

economic indicator n. a statistic used to gauge or predict economic performance.

ΘΚΠ

the world > relative properties > number > probability or statistics > [noun] > sample > numerical characteristic of

economic indicator1903

statistic1922

1903 Jrnl. Polit. Econ. 11 490 A trade balance is an economic indicator.

1951 Times 25 May 10/2 A year ago most economic indicators in Scotland pointed to a slowing down in the heavy industries which are the mainstay of our economy.

2004 R. F. Betts Hist. Pop. Culture 4 Sale of consumer goods has become the main national economic indicator.

economic man n. Economics a hypothetical person who manages his or her private income and expenditure strictly and consistently in accordance with his or her material interests, with no regard to the welfare of others; cf. economical man n. at economical adj. Compounds.

ΚΠ

1884 Jrnl. Statist. Soc. London 47 164 Starting higher up from the abstract definition of the economic man we reason down to the fact as well as the unity of price.

1889 G. B. Shaw Fabian Ess. Socialism 25 There is no such person as the celebrated ‘economic man’.

1890 A. Marshall Princ. Econ. I. vi. 78 When the older economists spoke of the ‘economic man’ as governed by selfish, or self-regarding motives, they did not express their meaning exactly.

1929 A. Huxley Do what you Will 217 Historical materialists, who deal..with abstract ‘Economic Men’.

1965 A. Seldon & F. G. Pennance Everyman's Dict. Econ. 138 Economic Man, concerned with the immediate aim of obtaining the largest possible command over resources with the minimum of sacrifice.

1991 Struct. Change & Econ. Dynamics 2 208 In most theories, the notion of economic man really does form the starting point for all deductions.

economic migrant n. a person who migrates, esp. to another country, in search of employment or economic opportunity.

ΘΚΠ

society > inhabiting and dwelling > inhabitant > migrant > [noun] > immigrant > types of

new chum1828

old chum1838

old hand1839

overer1871

overner1886

overun1889

landed immigrant1910

migrant1922

economic migrant1933

1933 Relief for Unemployed Transients (U.S. Senate Comm. on Manuf.) 103 The men in the bonus expeditionary forces and their families camping in Pennsylvania are of a higher type than the average economic migrant.

2004 H. Kennedy Just Law (2005) ix. 205 The new measure will hit authentic asylum seekers as well as economic migrants.

economic model n. (a) a pattern or exemplar for economic development; (b) a mathematical model used to analyse or make predictions about economic phenomena (cf. econometrics n.).

ΚΠ

1879 Galveston (Texas) Daily News 2 Jan. The socialists of the present day aim at using the state to transform the entire community after a prescribed economic model.

1941 Jrnl. Polit. Econ. 49 618 An economic model..should take into account all the important factors and economic variables influencing business cycles.

1982 Financial Times (Nexis) 10 May 14 President Brezhnev himself has pointed to Hungary as an economic model from which the rest of Comecon should learn.

2005 A. Rodríguez-Pose & J. Sánchez-Reaza in R. Kanbur & A. J. Venables Spatial Inequality & Devel. x. 252 A new economic model of regional growth in Mexico. As evidenced by model 5..three variables alone explain more than 40 per cent of the variance in regional growth.

economic modeller n. an analyst who constructs and employs economic models.

ΚΠ

1977 Econometrica 45 623 Decision analysts and economic modellers.

2006 Canberra Times (Nexis) 18 Nov. b4 An internationally recognised economic modeller..has calculated that if Australia..introduced carbon trading it would cut the value of our national income over the next 50 years by a mere 0.16 per cent.

economic modelling n. the construction and analysis of economic models.

ΚΠ

1958 Econometrica 26 179 Hopefully, the techniques of modelling used here may provide stimulus for new approaches to economic modelling.

2004 F. Ackerman & A. Nadal in F. Ackerman et al. Flawed Found. Gen. Equilibrium Theory 4 For economic modeling, the butterfly effect means that small errors in data..could utterly change the predicted results.

† economic rat n. [after scientific Latin Mus oeconomus ( P. S. Pallas Reise durch verschiedene Provinzen des Russischen Reichs (1776) III. 693)] Obsolete the root vole (now known as Microtus oeconomus), a small burrowing rodent found chiefly in the tundra of both Eurasia and North America.

ΘΚΠ

the world > animals > mammals > group Unguiculata or clawed mammal > order Rodentia or rodent > superfamily Myomorpha (mouse, rat, vole, or hamster) > [noun] > family Microtidae > genus Microtus

economic rat1781

snow-mousec1880

1781 T. Pennant Hist. Quadrupeds II. ii. iii. 451 Œconomic [Rat]... R[at] with small eyes: ears naked, and usually hid in the fur... They are called by Doctor Pallas, Mures Œconomi or Œconomic Mice, from their curious way of living.

1803 W. Bingley Animal Biogr. I. 425 The length of the Economic Rat is about four inches.

1870 P. Parley Tales about Animals (ed. 13) 345 The Economic Rat is a native of Siberia and Kamtschatka.

economic recession n. the condition or fact of economic decline; a period during which trade and industrial activity are reduced (sometimes specifically identified by a fall in GDP in two successive quarters).Cf. recession n.¹ 5b, social recession n. at social adj. and n. Compounds 2.

ΘΚΠ

society > trade and finance > management of money > management of national resources > [noun] > political economy > states or trends of the economy

inflation1821

economic cycle1832

recovery1843

downdraught1852

perfect competition1853

downturn1858

softness1872

slump1888

downtrend1890

sag1891

under-consumption1895

recession1905

downdrift1906

economic recession1908

air pocket1913

stickiness1913

trough1916

deflation1920

downswing1922

slowdown1922

scissors1924

scissors crisis1925

uptrend1926

reflation1932

depresh1933

upswing1934

stagnation1938

countercycle1944

fiscal cliff1957

turn-down1957

stagflation1965

soft landing1973

slumpflation1974

downer1976

1908 Sunday Times 5 Jan. 3/2 The true test of the American situation will be supplied by the industrial stocks, which must suffer most from economic recession.

1966 Washington Post 4 Apr. a17/2 Once started, cutbacks in investment process conceivably could get out of hand and trigger an economic recession.

2020 Financial Times (Nexis) 25 Mar. 22 All countries face the unprecedented simultaneous threat of a global health crisis, economic recession and financial meltdown.

economic refugee n. a person who leaves his or her native country in search of employment or economic opportunity; also in extended use.

ΚΠ

1928 N.Y. Times 2 July 7/5 This country was not built by economic refugees.

1976 Pacific Sociol. Rev. 19 203 The overwhelming majority of [illegal Mexican immigrants]..are law abiding persons—economic refugees from a country and region without work opportunities.

1991 Boston June 86/2 Jamaica Plain..has been overrun by economic refugees from pricey Cambridge.

2004 Sentinel (Stoke-on-Trent) (Nexis) 21 Feb. 11 The perception..was that they were economic refugees not genuine ‘hard done by’ real refugees.

economic rent n. Economics the amount by which what is paid to a particular economic factor (e.g. a worker, land, etc.) exceeds the minimum payment necessary to keep that factor in its present use or employment; cf. rent n.¹ 4.

ΘΚΠ

society > trade and finance > management of money > income, revenue, or profit > profit > [noun] > derived from something

lucrec1386

economic rent1875

1875 J. E. Cairnes Char. & Logical Method Polit. Econ. (ed. 2) 173 I should deny..that ‘economic rent’ depends on the difference in the returns of the soil to different capitals.

1894 G. B. Shaw in Fortn. Rev. Apr. 480 The difference between the worst acre and the best (otherwise the ‘economic rent’) can be reduced finally by equality of cultivation.

1950 G. Brenan Face of Spain v. 103 On their present wages, no working-class family can pay an economic rent.

1965 A. Seldon & F. G. Pennance Everyman's Dict. Econ. 142 Economic rent,..the earnings of a factor of production in excess of the minimum sum necessary to keep it in existing use.

1991 Fiscal Stud. Aug. 5 Any economic rent earned on assets purchased with such finance will yield a tax liability with a positive present value.

economic royalist n. U.S. Politics (depreciative) an advocate of a system in which social privilege and political authority derive from wealth.

ΚΠ

1936 F. D. Roosevelt in Modesto (Calif.) Bee 28 June 6/7 The economic royalists complain that we seek to overthrow the institutions of America.

2004 Newark (Ohio) Advocate (Nexis) 12 Mar. 6 a The Bush administration's economic royalists and large investors envision a future in which Americans cherry-pick high-skilled jobs.

economic system n. a system by which a society or other structure is organized with regard to its economy; the sum of the economic institutions and arrangements of a society.

ΘΚΠ

society > trade and finance > management of money > management of national resources > [noun]

political economya1687

finance1763

economic system1815

economy1892

plan1927

1815Economic system [see sense B. 4a].

1898 A. P. Atterbury tr. W. Sombart Socialism & Social Movement in 19th Cent. i. 4 By a ‘social class’ I understand..men who are interested in a specific system of production and distribution. We must, in understanding any social class, go back to this economic system.

1909 M. Epstein tr. W. Sombart Socialism & Social Movement (ed. 6) 1 In using the words ‘economic system’ I mean a given social order, or an economic condition of things, which is characterized by one or more prominent economic principles.

1929 W. Sombart in Econ. Hist. Rev. 2 14 By an economic system I understand a mode of satisfying and making provision for material wants, which can be comprehended as a unit, wherein each constituent element of the economic process displays some given characteristic.

1937 R. L. Hall (title) The economic system in a socialist state.

1951 R. Firth Elements Social Organization iv. 127 The role of the anthropologist here is rather that of a watch-dog—to see that no one takes away the reality of the economic systems of primitive peoples by default.

2004 New Yorker 13 Sept. 66/3 The Powell memorandum portrays the American economic system as ‘under broad attack’ by well-funded leftists.

economic Trinity n. Theology the Trinity as manifested and active in the world (cf. B. 2a).

ΚΠ

1849 R. Montgomery & J. Hennen tr. K. I. Nitzsch Syst. Christian Doctr. ii. §57. 129 The economic Trinity, Father, Son, and Spirit, belongs to the doctrine of the work of the Redeemer.

1913 Harvard Theol. Rev. 6 447 The ‘formula of three’, the economic trinity, a working formula of the rule of God in the world.

2000 B. L. McCormack in A. Hastings et al. Oxf. Compan. Christian Thought 65/2 When God incarnates himself, no change is effected in the divine being. The economic Trinity therefore becomes wholly disclosive of what God truly is in and for himself.

economic war n. (a) an economic strategy based on the use of measures (e.g. blockade) of which the primary effect is to weaken the economy of another state; (b) the use of such measures.

ΘΚΠ

society > trade and finance > management of money > management of national resources > [noun] > political economy > economic warfare

economic war1882

economic warfare1888

white war1931

1882 Times 25 Dec. 3/3 England is waging an economic war against France in the colonies, and especially in Madagascar.

1916 G. L. Dickinson (title) Economic war after the war.

1948 E. Pound Pisan Cantos lxxviii. 55 And the economic war has begun.

1994 Coloradoan (Fort Collins) 2 Jan. e1/4 If we continue to fight an economic war, we're going to be outflanked again.

economic warfare n. = economic war n. (b).

ΘΚΠ

society > trade and finance > management of money > management of national resources > [noun] > political economy > economic warfare

economic war1882

economic warfare1888

white war1931

1888 Times 25 May 5/3 Commenting on the precarious political situation, and on Prince Bismarck's economic warfare against Russia [etc.].

1939 W. S. Churchill in War Illustr. 2 Dec. 374/3 Nazi Germany is all the time under the grip of our economic warfare falling back in oil and other essential war supplies.

1968 D. Lampe Last Ditch xi. 113 SOE, the most special of the Special Forces, had just been set up under the cover of the Ministry of Economic Warfare.

1991 Japan Forum 3 246 They concluded that Britain could not be defeated from the air alone, but that a landing operation or the impact of economic warfare might do the trick.

economic zone n. a geographical area distinguished by its economic attributes; (also) = Exclusive Economic Zone n. at exclusive adj. and n. Additions.

ΘΚΠ

the world > the earth > water > sea or ocean > [noun] > in specific part of world

waters1586

home waters1838

economic zone1890

1890 Jrnl. Manch. Geogr. Soc. 6 276 The succession of the different economic zones from north to south necessitates an interchange of products.

1994 Globe & Mail (Toronto) 15 Jan. a6/3 The Northwest Atlantic Fisheries Organization..sets fishing quotas for the area outside Canada's 200-mile economic zone.

2001 Times 8 June i. 20/3 The presidents of the five countries..failed to conclude a free-trade agreement that would have posed a direct threat to President Putin's efforts to put Russia at the centre of a new Eurasian economic zone.

This entry has been updated (OED Third Edition, June 2008; most recently modified version published online June 2022).

单词	economic
释义	economicn.adj. Brit. /ˌiːkəˈnɒmɪk/, /ˌɛkəˈnɒmɪk/, U.S. /ˌɛkəˈnɑmɪk/, /ˌikəˈnɑmɪk/ Forms: Middle English economike, Middle English economyk, Middle English iconomique, Middle English iconomyke, 1500s–1600s economicke, 1500s–1600s oeconomicke, 1500s–1600s oeconomike, 1500s–1700s economick, 1500s–1700s oeconomick, 1600s aeconomick, 1600s economique, 1600s– economic, 1600s– oeconomic (now rare); also Scottish pre-1700 oeconomick, pre-1700 oeconomike. Origin: Of multiple origins. Partly a borrowing from French. Partly a borrowing from Latin. Etymons: French economique; Latin oeconomicus. Etymology: < (i) Middle French yconomique, iconomique, oecunomique, French économique, †oeconomique (noun) art or science of household management (c1265 in Old French), person responsible for expenditure in a household (1596 as economic in apparently isolated use), person who understands the art of household management (1553 in the passage translated in quot. 1593 at sense A. 1b), (adjective) relating to domestic or family matters, relating to the management of a household (c1370), which reduces costs or expenses (1794), relating to the management of a state (1803), and its etymon (ii) classical Latin oeconomicus (in post-classical Latin also economicus, yconomicus) relating to the orderly arrangement of material by an author, in post-classical Latin also of or relating to (the management of) a household (from a1345 in British sources; but compare classical Latin use as noun as a work title mentioned below), (noun) manager of a household, housekeeper, steward (probably from 7th cent. (in an 11th-cent. copy) in British sources), also (as either feminine singular or neuter plural noun, economica) economics, art of managing a household (from 1241 in British sources) < ancient Greek οἰκονομικός practised in the management of a household or family, thrifty, frugal, economical, in Hellenistic Greek also relating to the orderly arrangement of material by an author < οἰκονόμος (see economy n.) + -ικός -ic suffix. Compare Spanish económico (15th cent.), Italian economico (1550). With use as adjective compare earlier economical adj. With use as noun compare also classical Latin oeconomicus, title of a (Greek) treatise by Xenophon on household management, ancient Greek ἡ οἰκονομική (feminine, short for ἡ οἰκονομικὴ τέχνη) domestic economy, husbandry, ὁ οἰκονομικός (masculine), title of a treatise by Xenophon on household management, τὰ οἰκονομικά (neuter plural), title of a treatise ascribed to Aristotle on public finance.Compare also Middle French, French économe oeconomus n., also as adjective: (of a person) mindful or careful of expense, moderate in expenditure (1690; 1810 in figurative use). The pronunciation with short initial vowel was probably the original one in English, the pronunciation with long initial vowel (which is found from the early modern period onwards) being due to the influence of the contemporary pronunciation of Latin words with oe : compare E. J. Dobson Eng. Pronunc. 1500–1700 (ed. 2, 1968) II. §23. With sense A. 1b compare earlier, apparently isolated, icononucar (probably < post-classical Latin yconomicus + -er suffix¹):1523 J. Skelton Goodly Garlande of Laurell sig. Bi Esiodus the I cononucar And homerus the fresshe historiar. †A. n. 1. a. The art or science of household management, esp. with regard to the proper organization of domestic resources; domestic economy, housekeeping. Cf. economics n. 1. Obsolete. ΘΚΠ society > authority > control > [noun] > management or administration > domestic management housewifeship?c1225 cove and keyc1250 husbandryc1300 economica1393 ménagea1393 householda1398 householdinga1425 housewifery1440 economyc1454 economics1535 house rule1579 householdry1581 managery1586 housekeeping1652 household management1741 notability1756 homebuilding1757 domestic economy1778 Wirtschaft1841 homekeeping1846 housecraft1848 homemaking1863 home economics1872 home science1886 household science1896 domestic science1897 a1393 J. Gower Confessio Amantis (Fairf.) vii. 1670 That other point which to Practique Belongeth is Iconomique. 1481 tr. Cicero De Senectute sig. f5 The book of Economike, wherin [Xenophon]..declareth how the man ought to gouerne kepe & approwe his owne propre londys and goodys. 1623 C. Butler Feminine Monarchie (rev. ed.) v. sig. K4 As well in Musick as Oeconomick, there must sometime be Discords. 1656 T. Stanley Hist. Philos. iii. xvii. 156 Arts they did not expell out of Cities..no more than they would drive Oeconomick out of Houses. b. Someone who understands the art of household management. Obsolete. rare. ΘΚΠ society > authority > control > person in control > [noun] > manager or administrator > of a household economist1586 economic1593 1593 A. Munday tr. C. Estienne Def. Contraries 26 If those Philosophers or Oeconomikes [Fr. economicques] of times past [sc. Aristotle and Xenophon], were at this daie present to see, how these huswiues gouerne and content each one:..they might learne of them new preceptes & instructions. 1656 J. Trapp Comm. Eph. i. 10 God is the best economic; his house is exactly ordered for matter of good husbandry. 2. Church History. [after Italian economo (a1580; 1619 in the passages translated in quots. 1620¹, 1620²) < post-classical Latin œconomus oeconomus n.] An administrator of the revenues of a vacant benefice. Obsolete. ΘΚΠ society > faith > worship > benefice > [noun] > one who administers revenues of vacant benefices economic1620 1620 N. Brent tr. P. Sarpi Hist. Councel of Trent vii. 654 There beeing a suit for a benefice, an Economique [It. vn Economo] may bee created. 1620 N. Brent tr. P. Sarpi Hist. Councel of Trent viii. 788 The Episcopall Sea being voide, the Chapter shall elect one or two Economickes [It. vno, ò più Economi]. B. adj. 1. †a. Of or relating to household management, or to the ordering of private affairs; domestic. Cf. economical adj. 1a. Obsolete. ΘΚΠ society > authority > control > [adjective] > relating to management or administration > relating to household management economicalc1487 economic1599 notable1787 1599 J. Davies Nosce Teipsum 40 Doth employ her œconomicke Art..her houshold to preserue. 1603 J. Florio tr. M. de Montaigne Ess. i. xxxiv. 111 In this Oeconomicke or housholde order. 1627 M. Drayton Elegies in Battaile Agincourt 211 A man..of naturall goodnesse..whose courses..serue me for Oeconomike booke. 1650 J. Row & J. Row Hist. Kirk Scotl. (1842) 193 Imploying them in oeconomick & naturall morall duties. 1669 T. Gale Court of Gentiles: Pt. I iii. i. 17 Oeconomic Poesie..also..Politic Poesie..had their Original from Moses's Oeconomics, and Politics. 1704 Reply to Let. Aug. 15 35 in H. Layton Arguments & Replies Laws Oeconomick, being those of the Master and his Family. 1748 R. Shiells Marriage 34 Go learn the comely œconomic Arts, and treasure in your Souls her Precepts sweet. 1791 W. Cowper tr. Homer Odyssey in Iliad & Odyssey II. xix. 408 That I in wisdom œconomic aught Pass other women. b. Of or relating to the management of domestic or private income and expenditure; relating to (personal) monetary considerations, financial. Cf. economical adj. 1b. ΘΚΠ society > trade and finance > management of money > [adjective] > private economic1834 1834 T. Carlyle Sartor Resartus ii. iv, in Fraser's Mag. Feb. 193/1 Landlords' Bills, and other economic Documents. 1851 T. Carlyle Life J. Sterling i. ix. 82 His outlooks into the future, whether for his spiritual or economic fortunes, were confused. 1907 Publ. Mod. Lang. Assoc. Amer. 22 110 His theory was..definitely related to the literary occupations to which, thro the pressure of economic circumstances, he was forced to surrender himself. 1926 E. Paul & C. Paul tr. K. Marx Eighteenth Brumaire of L. Bonaparte vii. 133 In so far as millions of families live in economic circumstances which distinguish their mode of life, their interests, and their culture, from those of other classes, and make them hostile to other classes, these peasant families form a class. 1969 D. R. Cressey Theft of Nation x. 233 It took five years and a considerable number of ‘sit-downs’ for him to regain his economic status. 1984 A. Oakley Taking it like Woman (1985) 71 I disliked my economic dependence and its connotation of secondariness, of belonging to someone else and not to myself (and we did need more money). 1995 Briarpatch Mar. 8/2 Women in dire economic circumstances in Saskatchewan still have a choice between social assistance and the low-waged job. 2. a. Theology. Of or relating to the method of divine government of the world (esp. of humankind) (see economy n. 5a); spec. relating to or following a dispensation or method of divine government suited to the needs of a particular nation or period of time (cf. economy n. 5b). Cf. economical adj. 2a. ΚΠ 1655 S. Rutherford Covenant of Life Opened ii. xii. 364 Christs rendering of the Kingdome dispensatory or Oeconomick to the Father may well be a rendering of an account of his subjects. 1761 J. Stonhouse Universal Restitution 46 Damnation is œconomic and salutary. 1845 G. S. Faber Eight Diss. I. i. iii. 31 Jacob gives to this agent his..economic title of The Angel. 1911 H. B. Workman Christian Thought to Reformation iv. 105 With Tertullian the Trinity, an economic not immanent necessity, ‘is our name for God in movement or self-manifestation’. 1974 J. Pelikan Christian Trad. iv. 194 Other economic terms, such as the ‘pouring out’ or the ‘conferring’ of the Holy Spirit, were said to be applied to the Son in the New Testament because the Holy Spirit proceeded from both Father and Son. 2005 T. L. Inbody Faith of Christian Church 104 The economic doctrine of the Trinity, or the ‘Trinity of manifestation’, however is not merely a statement about our experience. †b. Relating to the proper government or organization of a community or other body. Obsolete. ΚΠ a1734 R. North Examen (1740) iii. 158 There is added, in the printed Narrative, an œconomic Scheme of the whole Contrivance, by Way of Synopsis. 1768 Ann. Reg. 1767 185 Making use of that supreme, oeconomic authority which the almighty has lodged in my hands for the protection of my subjects. ?1791 W. Kendall tr. G. Filangieri Science of Legislation xvi. 198 The most inconsiderable variation in these circumstances may produce an astonishing diversity in the interests of nations: whole systems of economic legislation must consequently differ. 3. a. Esp. of a person: characterized by thrift (sometimes, parsimony); careful in the management of financial resources; saving, sparing; = economical adj. 3. Also in extended use. Now somewhat rare. ΘΚΠ the mind > possession > retaining > sparingness or frugality > [adjective] > thrifty or economical housewifely1526 thrifty1526 compendious1584 economical1601 stewardly1746 managing1753 economic1755 1755 H. Walpole Mem. George II II. 96 We should be economic. 1763 Let. Earl Halifax on Peace 25 Some men..think, that there is as much reason to be just and œconomic in the distribution and management of public finances as of private patrimony. 1793 Assoc. Preserving Liberty against Republicans i. 11 The Taxes are..only for the support of a very œconomic Government. 1801 M. Edgeworth Belinda I. vi. 183 I never saw any one..so economic of her smiles. 1821 S. T. Coleridge Coll. Lett. (1971) V. 140 Day after day I see them so generous, so high-hearted, & yet so industrious, self-denying, and economic. 1861 Times 23 Oct. 7/6 He disgusted the economic members of the House by reading the sums paid to Parliamentary agents. 1903 Times 7 Nov. 14/5 They [sc. the Germans] are a thrifty, economic people. b. Characterized by or tending to economy in the use of resources; efficient, not wasteful. Cf. economical adj. 3 and uneconomic adj. 2a. ΚΠ 1794 Mrs. Fulhame Ess. Combustion ii. 56 A small glass tube..I found useful, and economic, especially in experiments on gold... A great number of experiments can be made on a single grain. 1807 T. Young Course Lect. Nat. Philos. I. xxvi. 315 The peculiar circumstances of the case may indicate to an ingenious artist a mode of performing the required work in an effectual and economic manner. 1823 New Eng. Farmer 2 9 The most expeditious, effectual, and economic mode of making a drain would undoubtedly be to use oxen, and a scraper. 1881 Science Nov. 526/1 Electricity..is an economic method which can produce very slow as well as very rapid motion. 1904 Sci. Amer. Suppl. 57 23438/3 (title) Aerial tramways as an economic means of transportation. 1946 Nature 10 Aug. 194/1 Radio-frequency heating is not an economic proposition for heating stable liquids. 1978 Jrnl. Royal Soc. Arts 126 657/2 The European A300 B airbus which is proving very economic here. 2006 Daily Tel. (Sydney) (Nexis) 26 June (State ed.) 7 While some [motorists] said they are switching to more economic cars, young drivers said they were delaying buying their own cars because of petrol prices. c. = economical adj. 5. (See etymological note at economy n.). ΘΚΠ society > faith > aspects of faith > doctrine > [adjective] > economic economical1833 economic1851 1815 J. C. Hobhouse Substance Lett. (1816) I. 11 That species of writing called by Voltaire, the œconomic style, or an expedient falsification of facts. 1851 F. W. Robertson Serm. (1863) 4th Ser. vi. 34 His economic management of Truth. I use this word though it may seem pedantic. 1991 Time Out 13 Mar. 29/2 He has..an enormous ability to be economic with the truth. d. Business. Commercially advantageous or expedient; (of a business enterprise) repaying (at least) the expenses of operation or use; solvent or profitable. ΘΚΠ society > trade and finance > management of money > income, revenue, or profit > getting or making money > [adjective] > profitable winning1435 lucrous1511 beneficial1526 lucrative1526 gainful1561 profitful1568 gainsome1579 profiting1590 requiteful1607 pennisome1631 lucriferous1648 opulent1648 emolumental1664 quick1681 well-metalleda1734 pay-rent1742 profitable1758 emolumentary1775 remunerative1813 economical1815 repaying1820 well-paying1832 benefited1837 paying1841 payable1855 money-making1887 economic1899 bankable1927 megadollar1963 money-spinning1973 1899 G. Gunton Trusts & Public xi. 146 Capital as a tool should be secured as cheaply as possible, and used as long as possible, and thrown away as soon as it ceases to be economic. 1943 W. H. Hutt Plan for Reconstruction 122 The production..remains diffused (in many separate plants, in a manner which is no longer economic). 1950 Introd. Aluminium & its Alloys (Aluminium Federation) 23 This process..becomes economic when quantities of the order of 1,000 or more castings are required. 1973 E. F. Schumacher Small is Beautiful i. iii. 46 Economics..supplies the criteria of what is ‘economic’ and what is ‘uneconomic’. 1988 M. Bradbury Unsent Lett. 70 Being a commercial writer in Britain, he explained, was simply not economic. 1999 Independent 8 July i. 9/8 A report sponsored by the trusts and the WWF..claims that in parts of England it is simply not economic to hold back the sea with concrete sea walls. 4. a. Of, relating to, or concerned with the science of economics or with the economy in general (economics n. 2, economy n. 11); relating to the development and regulation of the material resources of a community or state. Cf. economical adj. 4a, politico-economic adj., and socio-economic adj.European Economic Community: see European adj. 5b. ΘΚΠ society > trade and finance > management of money > management of national resources > [adjective] economical1781 politico-economicala1790 economic1815 politico-economic1839 plutonomic1860 economistic1873 plutological1920 1815 Times 13 Jan. 3/5 In consequence of the tranquil state of India, and the general economic system, the military establishment has been..much reduced. 1835 I. Taylor Spiritual Despotism ii. 70 The economic experiment. 1863 H. Fawcett Man. Polit. Econ. i. iv. 35 Principles which will enable us to investigate economic problems. 1865 J. G. Bertram (title) The harvest of the sea. A contribution to the natural and economic history of the British food fishes. 1883 Manch. Examiner 22 Nov. 5/3 M. Leroy-Beaulieu..one of the ablest writers on economic subjects. 1901 Speaker 20 July 450/1 Academism is all very well, but..it too often muffles the hammer of criticism, which ought to hit the nails of economic theory hard and on the head. 1927 C. A. Beard & M. R. Beard Rise Amer. Civilization I. xii. 565 Webster did not overlook mundane considerations—the economic and political substance of the pending issue, the sale of those annoying western lands. 1943 Amer. Hist. Rev. 48 853 No suggestion of social problems, economic policy, or scientific ferment appears. 1962 H. G. Johnson Canada in Changing World Econ. 49 The presence of government as a taxer and spender and as a major debtor tends by itself to reduce the rate of economic growth below the socially optimal rate. 1976 F. Zweig New Acquisitive Society i. v. 57 The rapidly growing ‘pressure group’ movement..definitely leads to politicization of economic life. 2006 D. Winner Those Feet 113 How should British decline be defined and measured? Could it have been reversed? Is it relative economic failure that bothers us? b. Of a subject or discipline: studied from a practical, material, commercial, or utilitarian standpoint, as economic botany, economic geography, etc. Cf. economical adj. 4c. ΘΚΠ the world > action or operation > advantage > usefulness > [adjective] > practically useful practical1642 economic1839 1839 H. T. De la Beche Rep. Geol. Cornwall 461 (heading) Economic geology, under the Department for Woods and Public Works. 1853 T. C. Archer (title) Popular Economic Botany; or, Description of the botanical and commercial characters of the principal articles of vegetable origin, used for food, clothing, tanning, dyeing, building, medicine, perfumery, etc. 1861 Jrnl. Soc. Arts 22 Mar. 295 (heading) The Economic History of Paraffine. 1873 Amer. Naturalist 7 544 A description of it will not be out of place in a report on economic entomology, as some members of the group to which it belongs are known to be destructive. 1914 J. McFarlane Econ. Geogr. 1 Economic Geography may be defined as the study of the influence exerted upon the economic activities of man by his physical environment. 1959 N.Z. Timber Jrnl. Apr. 52/2 Economic Forestry..is directed mainly towards marketing and utilization of forest products. 1994 Denver Post 8 Feb. c4/2 A two-year contract with the Bureau of Economic Geology..for petrophysical analysis for two gas fields. 2004 Univ. Oxf. Bot. Garden News Summer 3/1 Exploitation saw botanic gardens and economic botany as central to the manipulation of the rest of the world by the Great Nations of Europe. c. Relating to the generation of income; maintained for the sake of profit; = economical adj. 4b. rare. ΚΠ 1854 C. D. Badham Prose Halieutics 36 The advantages to be derived from economic fish-ponds. 1947 D. Wyman Arboretums & Bot. Gardens N. Amer. 456 The gardens are extensive and include an annual garden, a perennial garden, an alpine garden, an economic garden. 1993 Jrnl. Biogeography 20 506/1 Approximately one per cent of the forested land is used for protection and economic forests, Juglans (walnuts), Zanthoxylon (Chinese prickly ash), Vernicia fordii (tung oil) and fruit trees. Compounds economic and monetary union n. (the implementation of) a single market, monetary policy, and currency shared by a number of nations or states (now esp. in the European Union); cf. EMU n. at E n.¹ Initialisms. ΘΚΠ society > authority > rule or government > politics > international politics or relations > international agreements > [noun] > customs union or common market customs union1834 common market1843 economic and monetary union1922 Western European Union1944 1922 N.Y. Times 28 Aug. 18/4 The..expected, but almost impossible, request for economic and monetary union between the two countries. 1946 Lethbridge (Alberta) Herald 2 Oct. 1/2 He submitted a Yugoslav proposal providing for economic and monetary union between the Free State and Yugoslavia. 1969 Times 3 Dec. 5/7 The heads of state or government..agreed that..a plan in stages should be worked out during 1970 with a view to the creation of an economic and monetary union. 1993 Guardian 29 Oct. i. 1/5 He said their continuing support for the Maastricht programme for economic and monetary union was like recitation of a mantra. 2003 O. Abegunrin Nigerian Foreign Policy under Mil. Rule iv. ix. 147 The francophone countries were more actively involved in the affairs of a parallel economic union, the West African Economic and Monetary Union (UMEOA). economic adviser n. (also economic advisor) a person who advises (a government, etc.) on economic policy. ΘΚΠ the mind > attention and judgement > judgement or decision > advice > [noun] > adviser or counsellor > other types of preconsultor1609 co-assessor1644 adviser1752 legal adviser1788 pagati1803 legal advisor1825 investment adviser1853 referendary1876 tipster1884 economic adviser1907 1907 Washington Post 2 Oct. 6/7 R. C. Whitenack, economic adviser to the state of Baroda. 2003 Los Angeles Times (Nexis) 14 Aug. 9 ‘I firmly believe that what we have done was the absolute right course of action,’..Bush told reporters after meeting with his top economic advisors. 2011 G. F. DeMartino Economist's Oath v. 73 In her role as economic advisor she is to serve as a neutral technocrat who serves those with the authority to decide. economic blizzard n. a severe recession or slump in an economy. ΚΠ 1930 Times 26 May 9/3 A very grim thing had happened: the Socialist Government had run straight into the worst economic blizzard on record in time of peace. 2003 J. Gillingham European Integration, 1950–2003 xiii. 363 Nokia has withstood the economic blizzard of the past two years. economic citizenship n. (a) the right or ability to participate fully in a country's economic life; (b) citizenship awarded on the basis of a person's (usually substantial) financial investment in a country. ΚΠ 1906 Fort Wayne (Indiana) Jrnl.-Gaz. 13 May 16/6 Freemasonry..has already done more in the way of educating men for just economic citizenship than any other institution. 1989 Washington Post (Nexis) 9 Oct. e1 A public desire to stop selling Belizean passports to foreigners under an ‘economic citizenship’ program. 1997 A. Barnett This Time iii. 97 The original theorists of the Welfare State developed a concept of economic citizenship—meaning that there should be full employment and freedom from primary want underwritten by the State. 2000 P. Lilley Dirty Dealing 189 Economic citizenship is available (in other words buying a new passport). economic climate n. see climate n.¹ 2b. economic crime n. (a) a grave mistake or act of negligence in the management of an economy; a financial or economic outrage; (b) crime of a financial nature, esp. involving fraudulent activity; an instance of this. ΚΠ 1868 F. R. Lee & D. Burns Temperance Bible Comm. iii. 4 Could it be shown that alcohol, when imbibed, is neutral as to any sensible effect, its manufacture at the expense of the staff of life would be a vast economic crime. 1916 H. P. Horton tr. W. A. Bonger Criminality & Econ. Conditions ii. ii. ii. 590 While the opportunity to commit violent economic crimes successfully was diminishing, there was a constantly increasing opportunity to commit other economic crimes, such as theft, embezzlement, and fraud. 1951 Denton (Maryland) Jrnl. 6 Apr. 2/1 The government has steadily evaded taking the only actions which can block inflation... That is an economic crime against a misled people. 2005 K. C. Wong & G. Wong in R. Broadhurst & P. Grabosky Cyber Crime iii. 61 Committing economic crime via the Internet, for example theft, blackmail and illegal pyramid sales activity. economic cycle n. a cycle of alternating periods of economic growth and recession; cf. trade cycle n. at trade n. and adv. Compounds 3, business cycle n. at business n. Compounds 5. ΘΚΠ society > trade and finance > [noun] > cycle in trading economic cycle1832 trade cycle1857 business cycle1858 society > trade and finance > management of money > management of national resources > [noun] > political economy > states or trends of the economy inflation1821 economic cycle1832 recovery1843 downdraught1852 perfect competition1853 downturn1858 softness1872 slump1888 downtrend1890 sag1891 under-consumption1895 recession1905 downdrift1906 economic recession1908 air pocket1913 stickiness1913 trough1916 deflation1920 downswing1922 slowdown1922 scissors1924 scissors crisis1925 uptrend1926 reflation1932 depresh1933 upswing1934 stagnation1938 countercycle1944 fiscal cliff1957 turn-down1957 stagflation1965 soft landing1973 slumpflation1974 downer1976 1832 T. Chalmers On Polit. Econ. iii. 85 The world of trade may be conceived to revolve in what we shall call an economic cycle. 1879 Jrnl. Statist. Soc. London 42 865 The trade of England was rapidly advancing towards the crisis which terminates the prosperous half of the economic cycle. 1947 Lawton (Okla.) Constit. 19 Dec. 3/1 It would greatly relieve the extremes of the economic cycle of ‘boom and bust’ if creditors and debtors would practice restraint in time of ‘boom’. 2010 Guardian 25 Feb. 28/3 Traded life policy investments..do not suffer the same peaks and troughs as..savings affected by economic cycles. economic entomology n. the study of insects with regard to their impact on human economy, chiefly in relation to agriculture. ΚΠ 1852 Proc. Acad. Nat. Sci. Philadelphia 5 6 Economic entomology has been enriched by the discovery by Miss Morris, of a new destroyer of the peach tree. 1883 Manch. Guardian 26 May 8/7 Mr. S. L. Mosley, the recorder of economic entomology for Yorkshire. 1931 Wilson Bull. 43 29 There is hardly anything more characteristic of publications on economic entomology than the remark, after detailing the activities of predators, parasites, and diseases, that none of these can be depended upon for controlling the pests. 2013 W. R. Leach Butterfly People i. 41 His attraction to their beauty kept him there. He would never write a thing on economic entomology. economic good n. a commodity or service which is sufficiently scarce in relation to demand to command a price. ΚΠ 1878 J. J. Lalor tr. W. Roscher Princ. Polit. Econ. I. ii. 55 As a rule, with an advance in civilization, there is an increase in the number of goods, which become economic goods. 1979 N.Y. Times Mag. 9 Sept. 16/1 Rationing by price, a system in which economic goods go to the people who are most willing to pay for them. 2000 Q. Jrnl. Econ. 115 138 Health care is an economic good, that is, a scarce resource that cannot be provided to everyone. economic growth n. the increase in the production of goods and services per head of population over a stated period of time; the rate of expansion of the national income; cf. growth n.¹ 1c. ΘΚΠ society > trade and finance > management of money > management of national resources > [noun] > political economy > growth economic growth1875 growth1952 1875 Times 29 Dec. 3/6 A firm spirit, but the strictest caution, is still our duty until we have the most incontrovertible evidence that the nation has..resumed its full course of economic growth. 1916 Amer. Hist. Rev. 22 157 Economic growth and social progress are inextricably bound up together. 1940 C. G. Clark Condit. Econ. Progress x. 337 (heading) The morphology of economic growth. 1948 Proc. Amer. Philos. Soc. 92 229/2 The economic growth of the United States can thus be defined. 1953 J. Viner Internat. Trade & Econ. Devel. vi. 103 It is not necessary to look for other factors..to explain pervasive poverty and slow economic growth. 1965 Times 17 Feb. 19/6 Economic growth is no longer regarded as the cure-all for the nation's ills. 1985 J. Chrétien Straight from Heart (1986) v. 102 It was an economic requirement at that time to stimulate consumer demand as a means of maintaining economic growth. 2006 N.Y. Rev. Bks. 27 Apr. 21/3 He distinguishes two kinds of economic growth—the ‘Smithian’ variety that reflects Adam Smith's vision in The Wealth of Nations..and a ‘Schumpeterian’ variety that is driven by continuous technological innovation. economic indicator n. a statistic used to gauge or predict economic performance. ΘΚΠ the world > relative properties > number > probability or statistics > [noun] > sample > numerical characteristic of economic indicator1903 statistic1922 1903 Jrnl. Polit. Econ. 11 490 A trade balance is an economic indicator. 1951 Times 25 May 10/2 A year ago most economic indicators in Scotland pointed to a slowing down in the heavy industries which are the mainstay of our economy. 2004 R. F. Betts Hist. Pop. Culture 4 Sale of consumer goods has become the main national economic indicator. economic man n. Economics a hypothetical person who manages his or her private income and expenditure strictly and consistently in accordance with his or her material interests, with no regard to the welfare of others; cf. economical man n. at economical adj. Compounds. ΚΠ 1884 Jrnl. Statist. Soc. London 47 164 Starting higher up from the abstract definition of the economic man we reason down to the fact as well as the unity of price. 1889 G. B. Shaw Fabian Ess. Socialism 25 There is no such person as the celebrated ‘economic man’. 1890 A. Marshall Princ. Econ. I. vi. 78 When the older economists spoke of the ‘economic man’ as governed by selfish, or self-regarding motives, they did not express their meaning exactly. 1929 A. Huxley Do what you Will 217 Historical materialists, who deal..with abstract ‘Economic Men’. 1965 A. Seldon & F. G. Pennance Everyman's Dict. Econ. 138 Economic Man, concerned with the immediate aim of obtaining the largest possible command over resources with the minimum of sacrifice. 1991 Struct. Change & Econ. Dynamics 2 208 In most theories, the notion of economic man really does form the starting point for all deductions. economic migrant n. a person who migrates, esp. to another country, in search of employment or economic opportunity. ΘΚΠ society > inhabiting and dwelling > inhabitant > migrant > [noun] > immigrant > types of new chum1828 old chum1838 old hand1839 overer1871 overner1886 overun1889 landed immigrant1910 migrant1922 economic migrant1933 1933 Relief for Unemployed Transients (U.S. Senate Comm. on Manuf.) 103 The men in the bonus expeditionary forces and their families camping in Pennsylvania are of a higher type than the average economic migrant. 2004 H. Kennedy Just Law (2005) ix. 205 The new measure will hit authentic asylum seekers as well as economic migrants. economic model n. (a) a pattern or exemplar for economic development; (b) a mathematical model used to analyse or make predictions about economic phenomena (cf. econometrics n.). ΚΠ 1879 Galveston (Texas) Daily News 2 Jan. The socialists of the present day aim at using the state to transform the entire community after a prescribed economic model. 1941 Jrnl. Polit. Econ. 49 618 An economic model..should take into account all the important factors and economic variables influencing business cycles. 1982 Financial Times (Nexis) 10 May 14 President Brezhnev himself has pointed to Hungary as an economic model from which the rest of Comecon should learn. 2005 A. Rodríguez-Pose & J. Sánchez-Reaza in R. Kanbur & A. J. Venables Spatial Inequality & Devel. x. 252 A new economic model of regional growth in Mexico. As evidenced by model 5..three variables alone explain more than 40 per cent of the variance in regional growth. economic modeller n. an analyst who constructs and employs economic models. ΚΠ 1977 Econometrica 45 623 Decision analysts and economic modellers. 2006 Canberra Times (Nexis) 18 Nov. b4 An internationally recognised economic modeller..has calculated that if Australia..introduced carbon trading it would cut the value of our national income over the next 50 years by a mere 0.16 per cent. economic modelling n. the construction and analysis of economic models. ΚΠ 1958 Econometrica 26 179 Hopefully, the techniques of modelling used here may provide stimulus for new approaches to economic modelling. 2004 F. Ackerman & A. Nadal in F. Ackerman et al. Flawed Found. Gen. Equilibrium Theory 4 For economic modeling, the butterfly effect means that small errors in data..could utterly change the predicted results. † economic rat n. [after scientific Latin Mus oeconomus ( P. S. Pallas Reise durch verschiedene Provinzen des Russischen Reichs (1776) III. 693)] Obsolete the root vole (now known as Microtus oeconomus), a small burrowing rodent found chiefly in the tundra of both Eurasia and North America. ΘΚΠ the world > animals > mammals > group Unguiculata or clawed mammal > order Rodentia or rodent > superfamily Myomorpha (mouse, rat, vole, or hamster) > [noun] > family Microtidae > genus Microtus economic rat1781 snow-mousec1880 1781 T. Pennant Hist. Quadrupeds II. ii. iii. 451 Œconomic [Rat]... R[at] with small eyes: ears naked, and usually hid in the fur... They are called by Doctor Pallas, Mures Œconomi or Œconomic Mice, from their curious way of living. 1803 W. Bingley Animal Biogr. I. 425 The length of the Economic Rat is about four inches. 1870 P. Parley Tales about Animals (ed. 13) 345 The Economic Rat is a native of Siberia and Kamtschatka. economic recession n. the condition or fact of economic decline; a period during which trade and industrial activity are reduced (sometimes specifically identified by a fall in GDP in two successive quarters).Cf. recession n.¹ 5b, social recession n. at social adj. and n. Compounds 2. ΘΚΠ society > trade and finance > management of money > management of national resources > [noun] > political economy > states or trends of the economy inflation1821 economic cycle1832 recovery1843 downdraught1852 perfect competition1853 downturn1858 softness1872 slump1888 downtrend1890 sag1891 under-consumption1895 recession1905 downdrift1906 economic recession1908 air pocket1913 stickiness1913 trough1916 deflation1920 downswing1922 slowdown1922 scissors1924 scissors crisis1925 uptrend1926 reflation1932 depresh1933 upswing1934 stagnation1938 countercycle1944 fiscal cliff1957 turn-down1957 stagflation1965 soft landing1973 slumpflation1974 downer1976 1908 Sunday Times 5 Jan. 3/2 The true test of the American situation will be supplied by the industrial stocks, which must suffer most from economic recession. 1966 Washington Post 4 Apr. a17/2 Once started, cutbacks in investment process conceivably could get out of hand and trigger an economic recession. 2020 Financial Times (Nexis) 25 Mar. 22 All countries face the unprecedented simultaneous threat of a global health crisis, economic recession and financial meltdown. economic refugee n. a person who leaves his or her native country in search of employment or economic opportunity; also in extended use. ΚΠ 1928 N.Y. Times 2 July 7/5 This country was not built by economic refugees. 1976 Pacific Sociol. Rev. 19 203 The overwhelming majority of [illegal Mexican immigrants]..are law abiding persons—economic refugees from a country and region without work opportunities. 1991 Boston June 86/2 Jamaica Plain..has been overrun by economic refugees from pricey Cambridge. 2004 Sentinel (Stoke-on-Trent) (Nexis) 21 Feb. 11 The perception..was that they were economic refugees not genuine ‘hard done by’ real refugees. economic rent n. Economics the amount by which what is paid to a particular economic factor (e.g. a worker, land, etc.) exceeds the minimum payment necessary to keep that factor in its present use or employment; cf. rent n.¹ 4. ΘΚΠ society > trade and finance > management of money > income, revenue, or profit > profit > [noun] > derived from something lucrec1386 economic rent1875 1875 J. E. Cairnes Char. & Logical Method Polit. Econ. (ed. 2) 173 I should deny..that ‘economic rent’ depends on the difference in the returns of the soil to different capitals. 1894 G. B. Shaw in Fortn. Rev. Apr. 480 The difference between the worst acre and the best (otherwise the ‘economic rent’) can be reduced finally by equality of cultivation. 1950 G. Brenan Face of Spain v. 103 On their present wages, no working-class family can pay an economic rent. 1965 A. Seldon & F. G. Pennance Everyman's Dict. Econ. 142 Economic rent,..the earnings of a factor of production in excess of the minimum sum necessary to keep it in existing use. 1991 Fiscal Stud. Aug. 5 Any economic rent earned on assets purchased with such finance will yield a tax liability with a positive present value. economic royalist n. U.S. Politics (depreciative) an advocate of a system in which social privilege and political authority derive from wealth. ΚΠ 1936 F. D. Roosevelt in Modesto (Calif.) Bee 28 June 6/7 The economic royalists complain that we seek to overthrow the institutions of America. 2004 Newark (Ohio) Advocate (Nexis) 12 Mar. 6 a The Bush administration's economic royalists and large investors envision a future in which Americans cherry-pick high-skilled jobs. economic system n. a system by which a society or other structure is organized with regard to its economy; the sum of the economic institutions and arrangements of a society. ΘΚΠ society > trade and finance > management of money > management of national resources > [noun] political economya1687 finance1763 economic system1815 economy1892 plan1927 1815Economic system [see sense B. 4a]. 1898 A. P. Atterbury tr. W. Sombart Socialism & Social Movement in 19th Cent. i. 4 By a ‘social class’ I understand..men who are interested in a specific system of production and distribution. We must, in understanding any social class, go back to this economic system. 1909 M. Epstein tr. W. Sombart Socialism & Social Movement (ed. 6) 1 In using the words ‘economic system’ I mean a given social order, or an economic condition of things, which is characterized by one or more prominent economic principles. 1929 W. Sombart in Econ. Hist. Rev. 2 14 By an economic system I understand a mode of satisfying and making provision for material wants, which can be comprehended as a unit, wherein each constituent element of the economic process displays some given characteristic. 1937 R. L. Hall (title) The economic system in a socialist state. 1951 R. Firth Elements Social Organization iv. 127 The role of the anthropologist here is rather that of a watch-dog—to see that no one takes away the reality of the economic systems of primitive peoples by default. 2004 New Yorker 13 Sept. 66/3 The Powell memorandum portrays the American economic system as ‘under broad attack’ by well-funded leftists. economic Trinity n. Theology the Trinity as manifested and active in the world (cf. B. 2a). ΚΠ 1849 R. Montgomery & J. Hennen tr. K. I. Nitzsch Syst. Christian Doctr. ii. §57. 129 The economic Trinity, Father, Son, and Spirit, belongs to the doctrine of the work of the Redeemer. 1913 Harvard Theol. Rev. 6 447 The ‘formula of three’, the economic trinity, a working formula of the rule of God in the world. 2000 B. L. McCormack in A. Hastings et al. Oxf. Compan. Christian Thought 65/2 When God incarnates himself, no change is effected in the divine being. The economic Trinity therefore becomes wholly disclosive of what God truly is in and for himself. economic war n. (a) an economic strategy based on the use of measures (e.g. blockade) of which the primary effect is to weaken the economy of another state; (b) the use of such measures. ΘΚΠ society > trade and finance > management of money > management of national resources > [noun] > political economy > economic warfare economic war1882 economic warfare1888 white war1931 1882 Times 25 Dec. 3/3 England is waging an economic war against France in the colonies, and especially in Madagascar. 1916 G. L. Dickinson (title) Economic war after the war. 1948 E. Pound Pisan Cantos lxxviii. 55 And the economic war has begun. 1994 Coloradoan (Fort Collins) 2 Jan. e1/4 If we continue to fight an economic war, we're going to be outflanked again. economic warfare n. = economic war n. (b). ΘΚΠ society > trade and finance > management of money > management of national resources > [noun] > political economy > economic warfare economic war1882 economic warfare1888 white war1931 1888 Times 25 May 5/3 Commenting on the precarious political situation, and on Prince Bismarck's economic warfare against Russia [etc.]. 1939 W. S. Churchill in War Illustr. 2 Dec. 374/3 Nazi Germany is all the time under the grip of our economic warfare falling back in oil and other essential war supplies. 1968 D. Lampe Last Ditch xi. 113 SOE, the most special of the Special Forces, had just been set up under the cover of the Ministry of Economic Warfare. 1991 Japan Forum 3 246 They concluded that Britain could not be defeated from the air alone, but that a landing operation or the impact of economic warfare might do the trick. economic zone n. a geographical area distinguished by its economic attributes; (also) = Exclusive Economic Zone n. at exclusive adj. and n. Additions. ΘΚΠ the world > the earth > water > sea or ocean > [noun] > in specific part of world waters1586 home waters1838 economic zone1890 1890 Jrnl. Manch. Geogr. Soc. 6 276 The succession of the different economic zones from north to south necessitates an interchange of products. 1994 Globe & Mail (Toronto) 15 Jan. a6/3 The Northwest Atlantic Fisheries Organization..sets fishing quotas for the area outside Canada's 200-mile economic zone. 2001 Times 8 June i. 20/3 The presidents of the five countries..failed to conclude a free-trade agreement that would have posed a direct threat to President Putin's efforts to put Russia at the centre of a new Eurasian economic zone. This entry has been updated (OED Third Edition, June 2008; most recently modified version published online June 2022). < n.adj.a1393
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