oikonomia

Oikonomia is an ancient Greek term that originally meant the management or administration of a household or estate. Over time, it evolved to refer broadly to the management of resources and the organization of economic activities within a society. Essentially, oikonomia involves how communities allocate resources, labor, and capital to meet needs and achieve collective well-being. It forms the foundation of economics as a discipline, emphasizing prudent planning, efficient resource use, and the balancing of individual and societal interests to promote prosperity and stability.