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Economics
Economics is a social science concerned with the factors that determine the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία from οἶκος (oikos, "house") and νόμος (nomos, "custom" or "law"), hence "rules of the house (hold for good management)". 'Political economy' was the earlier name for the subject, but economists in the late 19th century suggested "economics" as a shorter term for "economic science" to establish itself as a separate discipline outside of political science and other social science
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A society can be Pareto optimal and still perfectly disgusting.
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Despite a voluminous and often fervent literature on "income distribution," the cold fact is that most income is not distributed: It is earned.
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Tags contributing to this page include: economics, economic, economics-and-finance, economics-finance, finance-and-economics, finance-econ, finance-economics, and finance-economy
