Political economy. See under Political.

Syn.Economy, Frugality, Parsimony. Economy avoids all waste and extravagance, and applies money to the best advantage; frugality cuts off indulgences, and proceeds on a system of saving. The

1. One who economizes, or manages domestic or other concerns with frugality; one who expends money, time, or labor, judiciously, and without waste. "Economists even to parsimony." Burke.

2. One who is conversant with political economy; a student of economics.

(E*con`o*mi*za"tion) n. The act or practice of using to the best effect. [R.] H. Spenser.

(E*con"o*mize) v. t. [imp. & p. p. Economized ; p. pr. & vb. n. Economizing.] [Cf. F. économiser.] To manage with economy; to use with prudence; to expend with frugality; as, to economize one's income. [Written also economise.]

Expenses in the city were to be economized.

Calculating how to economize time.
W. Irving.

(E*con"o*mize), v. i. To be prudently sparing in expenditure; to be frugal and saving; as, to economize in order to grow rich. [Written also economise.] Milton.

(E*con"o*mi`zer) n.

1. One who, or that which, economizes.

2. Specifically: (Steam Boilers) An arrangement of pipes for heating feed water by waste heat in the gases passing to the chimney.

(E*con"o*my) n.; pl. Economies [F. économie, L. oeconomia household management, fr. Gr. o'ikonomi`a, fr. o'ikono`mos one managing a household; o'i^kos house (akin to L. vicus village, E. vicinity) + no`mos usage, law, rule, fr. ne`mein to distribute, manage. See Vicinity, Nomad.]

1. The management of domestic affairs; the regulation and government of household matters; especially as they concern expense or disbursement; as, a careful economy.

Himself busy in charge of the household economies.

2. Orderly arrangement and management of the internal affairs of a state or of any establishment kept up by production and consumption; esp., such management as directly concerns wealth; as, political economy.

3. The system of rules and regulations by which anything is managed; orderly system of regulating the distribution and uses of parts, conceived as the result of wise and economical adaptation in the author, whether human or divine; as, the animal or vegetable economy; the economy of a poem; the Jewish economy.

The position which they [the verb and adjective] hold in the general economy of language.

In the Greek poets, as also in Plautus, we shall see the economy . . . of poems better observed than in Terence.
B. Jonson.

The Jews already had a Sabbath, which, as citizens and subjects of that economy, they were obliged to keep.

4. Thrifty and frugal housekeeping; management without loss or waste; frugality in expenditure; prudence and disposition to save; as, a housekeeper accustomed to economy but not to parsimony.

  By PanEris using Melati.

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