by Summary:
Aristotle, in his book on Politics, distinguished between two kinds of activities. Chrematistike (χρηματιστική) – sheer money-making – was considered morally inferior to Oikonomia (οἰκονομία) – the concern for morally adequate individual and public household management. In fact Aristotle cautioned against separating financial activities from public (political) oversight, as this Chrematistic logic leads to maximization strategies resulting in excesses. By contrast, the desirable Oikonomic processes promote overall well-being in social, ecological, financial and even inter-generational dimensions.... Developing EconomicsOikonomia is Back, for Now Jacob Assa, economist at United Nations Development Programme
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Aristotle, in his book on Politics, distinguished between two kinds of activities. Chrematistike (χρηματιστική) – sheer money-making – was considered morally inferior to Oikonomia (οἰκονομία) – the concern for morally adequate individual and public household management. In fact Aristotle cautioned against separating financial activities from public (political) oversight, as this Chrematistic logic leads to maximization strategies resulting in excesses. By contrast, the desirable Oikonomic processes promote overall well-being in social, ecological, financial and even inter-generational dimensions.... Developing EconomicsOikonomia is Back, for Now Jacob Assa, economist at United Nations Development Programme
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Mike Norman considers the following as important:
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Aristotle, in his book on Politics, distinguished between two kinds of activities. Chrematistike (χρηματιστική) – sheer money-making – was considered morally inferior to Oikonomia (οἰκονομία) – the concern for morally adequate individual and public household management. In fact Aristotle cautioned against separating financial activities from public (political) oversight, as this Chrematistic logic leads to maximization strategies resulting in excesses. By contrast, the desirable Oikonomic processes promote overall well-being in social, ecological, financial and even inter-generational dimensions....Developing Economics
Oikonomia is Back, for Now
Jacob Assa, economist at United Nations Development Programme