A Hamster takes growth economics apart

"The word "economics" is based on Greek roots, but that is a bit of a humbug, since the Greeks didn't have a field of study anything like economics.

The two Greek roots of the word "economics" are oikos -- meaning more or less the household or family estate -- and nomos, which can mean rules, natural laws or laws made by the government, but which in this case primarily means "wise saws" or "rules of thumb."

Thus the book Oikonomia, by the Greek author Xenophon, is probably best translated as "rules of thumb for estate management."

So economics means guessing property values - up there with real estate agents - with vested interests in profiting.

Check: http://faculty.lebow.drexel.edu/mccainr/top/prin/txt/Intro/Eco111h.html