Monday, June 06, 2005

Knowledge Bears Evil

Due to somewhat simpler and since-rejected concepts in the etymologies of certain words, the more despicable among us will willfully exploit incongruities, (also see the exploitation of Adam Smith later on):

It's worth paying attention to the origin of words. Economics hasn't always been about the accumulation of wealth or the management of the stock market. The word economics derives from the Greek word oikodome, meaning household. In the ancient world, economics was about the ways in which a household was shaped and managed, and how it contributed to the good of the community in which it participated. Today, the needy of our global village outnumber those who have their needs met. We may think of this as important or sad, but we forget that it's also economics.

I remember reading in one of Hayek's books, The Fatal Conceit I think, that he suggests a change of terminology from "economics" to "catallactics" in order that modern thought on the subject be better reflected in the etymological meaning of the subject's name.

1 Comments:

Blogger Dave F. said...

I love your blog, Rob. Now I can get my Rob fix 24/7.

8:31 PM  

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