Noun
The science of household affairs, or of domestic management.
Political economy; the science of the utilities or the useful application of wealth or material resources. See Political economy, under Political.
Source: Webster's dictionaryThe art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups. Henry Hazlitt
We have always known that heedless self-interest was bad morals; we know now that it is bad economics. Franklin D. Roosevelt
Economics are the method; the object is to change the heart and soul. Margaret Thatcher
Economics is extremely useful as a form of employment for economists. John Kenneth Galbraith
While I am interested both in economics and in philosophy, the union of my interests in the two fields far exceeds their intersection. Amartya Sen
Geography has made us neighbors. History has made us friends. Economics has made us partners, and necessity has made us allies. Those whom God has so joined together, let no man put asunder. John F. Kennedy