The Economist

Name: The Economist
Author: Xenophon

by Xenophon

Pages: about 136
Category: Economics & Business
Language: English
Reading time: 2.5 h at 250 wpm

Start readingThe whole book, as cards or one word at a time. 83 min at 450 wpm in Read mode.

From the opening

I once heard him [2] discuss the topic of economy [3] after the following manner. Addressing Critobulus, [4] he said: Tell me, Critobulus, is "economy," like the words "medicine," "carpentry," "building," "smithying," "metal-working," and so forth, the name of a particular kind of knowledge or science?
[1] By "economist" we now generally understand "political economist," but the use of the word as referring to domestic economy, the subject matter of the treatise, would seem to be legitimate.
[3] Lit. "the management of a household and estate." See Plat. "Rep." 407 B; Aristot. "Eth. N." v. 6; "Pol." i. 3.
Soc. And as, in the case of the arts just named, we can state the proper work or function of each, can we (similarly) state the proper work and function of economy?
Crit. It must, I should think, be the business of the good economist [5] at any rate to manage his own house or estate well.
Soc. And supposing another man's house to be entrusted to him, he would be able, if he chose, to manage it as skilfully as his own, would he not? since a man who is skilled in carpentry can work as well for another as for himself: and this ought to be equally true of the good economist?
Soc. Then there is no reason why a proficient in this art, even if he does not happen to possess wealth of his own, should not be paid a salary for managing a house, just as he might be paid for building one?
Crit. None at all: and a large salary he would be entitled to earn if, after paying the necessary expenses of the estate entrusted to him, he can create a surplus and improve the property.
Soc. Well! and this word "house," what are we to understand by it? the domicile merely? or are we to include all a man's possessions outside the actual dwelling-place? [6]

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The Economist

From the opening

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