s philosophic contributions was a new notion of causality. Each thing or event, he thought, has more than one "reason" that helps to explain what, why, and where it is. Therefore something can be better understood when its causes can be stated in specific terms rather than in general terms.EconomicsEconomics is a word made up from two Greek words oikos, meaning household, and nomos, meaning to manage.From the start, then, the word economic was associated with the close supervision and management necessary to ensure provisions to a community. The management concerned, however, was that of the household, so that economic was used as equivalent to domestic, and economics in ancient and mediaeval times was a term used to distinguish the economy of the household (oikos) from that of the city (polis). For Aristotle, therefore, Economics and Politics meant two different studies and arts. (Boland, par. 2)According to Aristotle, we should avoid using the expression managing the economy when we mean the political economy. The public community is not a household run by the government. The relationship between the government and the community is different from that between the head of the household and the household itself. However, we should not look at the political economy as something which exists independently of human intervention. Human social affairs, including the provisioning of economic goods, are dependent on good government. Simply, the government of a state is not like the management of a household. It is a ruling of those who are free and able to provide for themselves (given good laws and institutions which is the governments business); who therefore have their own property and have responsibility for the management of their own affairs. The role of the government should be supplementary, not managerial.Influence on Modern EconomicsAristotle wrote about problems of wealth, property, and trade. He was prejudiced against ...
