GEOG202 Midterm: Midterm

• School: University of Waterloo
• Department: Geography and Environmental Management
• Course: GEOG202
• Professor: Daniel Cockayne

Document Summary

The economy is a concept with a history and its modern usage is quite specific and recent. Globalization is understood as a qualitative and uneven process. Ancient definitions: oikonomos from the greek: oiko the household and (patriarchal) family, and nomos the law, the law/management of one"s household/estate (land ownership, male head of the household, Ancient to early christian definitions slave ownership accepted) Prudence: major characteristic of the economy in greek and early christian uses. Broadly retained the association with prudence but rarely referring to political economy as in today"s usage. E. g. , someone who had good economy of speech might be said to use their words wisely and carefully, and use few words to convey their meaning. E. g. , the canadian economy : gives a sense of coherence and naturalness. Our definition is largely capitalist: this would not have been the case for the greeks.