ECONOMY • E-FREE TRANSLATION.COM • Definition of Economy

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/ɪkˈɑnəmi/ /ikˈɑnəmi/ Listen

noun

economy n. (pl. economies)

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."

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." "In the Greek poets, as also in Plautus, we shall see the economy... of poems better observed than in Terence." "The Jews already had a Sabbath, which, as citizens and subjects of that economy, they were obliged to keep."

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.

Synonyms: Economy, Frugality, Parsimony. Economy avoids all waste and extravagance, and applies money to the best advantage; frugality cuts off indulgences, and proceeds on a system of saving. The latter conveys the idea of not using or spending superfluously, and is opposed to lavishness or profusion. Frugality is usually applied to matters of consumption, and commonly points to simplicity of manners; parsimony is frugality carried to an extreme, involving meanness of spirit, and a sordid mode of living. Economy is a virtue, and parsimony a vice. "I have no other notion of economy than that it is the parent to liberty and ease." "The father was more given to frugality, and the son to riotousness (luxuriousness)."

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Etymology of 'Economy'

Collaborative International Dictionary of English 0.48

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"Economy" Quotes from Famous Books

... a third their coalescence in a higher unity. On the other hand, the statement of each of these in its own proper connection would necessitate the repetition of some description, however meager, of the conditions of experimentation in connection with each item. For economy's sake, therefore, a compromise has been made between reporting results according to distribution of material and according to distribution of topics. The evidence of higher grouping, for example, which is afforded by variations in duration and phases of intensity in alternate measures, ...

— Harvard Psychological Studies, Volume 1 • Various

... population averages. The percentage of black officers, 1.6 percent of all officers, while admittedly low, had been rising steadily and compared favorably with the number of black executives in the civilian economy. The occupational status of the black enlisted man had also undergone steady improvement since the early days of integration, especially when one compared the number and variety of military occupation specialties ...

— Integration of the Armed Forces, 1940-1965 • Morris J. MacGregor Jr.

... he did not hesitate to employ it. By his skilful treatment, by his illustrations drawn from England and France, which show the accuracy and range of his mental vision in matters of politics and public economy, both at home and abroad, and with the powerful support of Judge Story, Mr. Webster carried his point. The element of property representation in the Senate was retained, but so wholly by the ability of its advocate, that it was not ...

— Daniel Webster • Henry Cabot Lodge

... that most of them were not driven ashore to earn their bread. What Daniel Webster said of them at a later day was true from the beginning: "It is not, sir, by protection and bounties, but by unwearied exertion, by extreme economy, by that manly and resolute spirit which relies on itself to protect itself. These causes alone enable American ships still to keep the element and show the flag of their country in ...

— The Old Merchant Marine - A Chronicle of American Ships and Sailors, Volume 36 in - the Chronicles Of America Series • Ralph D. Paine

... a bill from a corn-chandler's at Horsham, the type of bill that was sent in days of war economy which folded over and constituted its own envelope. It was addressed to "J. B. Harden, Esq." ("That was the alias he used when he took the wine vaults at Paddington," explained McNorton) and had been ...

— The Green Rust • Edgar Wallace

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