Xenophon: Economy Finds the Name

摘要

The examples of economic thinking originated and developed in different countries, but it reached the higher level of development in ancient Greece. Indeed, very important economic views developed in different countries, but the term "economy" first appeared in Greece. The ancient Greek thinkers considered "economy" within the context of polis. Although no economic science and no special economic doctrine developed in that period the study of individual economic problems laid the solid foundation for the emergence of economics as a science in the future. Serious discussions about the individual elements of the economy that began in those days are still relevant today. With that respect the primary role played the ancient Greek philosopher Xenophon (Xenophon, about 431-354 B.C.). He was the first to use the term "economy" in his work of "Oeconomicus" (Oικoνoμικoς - from Greek oικoς - "house" and νoμoς - "law", i.e. the law of household management). Also, Xenophon was the first to understand the importance of demand on production of high quality goods and the advantages of labor division. He made recommendations on mobilization of additional sources of state revenues and began discussions on the use value and exchange value of goods, priority of agriculture, wage labor, genuine and counterfeit money etc.