Economy

One of the three facets of the concept of sustainability.

  • The production, distribution and exchange of goods.
  • Cost reduction, frugality.
  • Housekeeping.

Originally, it means the law or administration (nomos) of the house (oikos). Etymologically similar to ecology the science (logos) of the house (oikos) Another indication that economy and ecology cannot be separated. Good housekeeping means not to spend more than we earn or own. Good ecology should be the same. In the modern language, economy means to produce wealth and money rather than reducing expenses. It is driven by market laws such as supply and demand. If everything were for sale, the economy would reign alone. We can escape it only by what has no value (free exchange and non-profit activities) or no price (ethic, dignity, justice).
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