‘Oeconomy' and ‘political oeconomy' in The Theory of Moral Sentiments and in The Wealth of Nations1

Abstract

Three years before the publication of Adam Smith’s Theory of Moral Sentiments (TMS), there had been a French translation of the New General English Dictionary published by the reverend Thomas Dyche and by the gentleman William Pardon in 1735, which contained the following entry:OECONOMY (S.) Good Management, or Regularity in Private Families; also prudent Behaviour in any Affairs whatever; in Physick, the Animal Oeconomy is properly the Science of Anatomy enlarged, taking in not only the Structure and Parts of a human Body, but also their Use, together with the Nature and Causes of Life, Health, and Disorders that produce or cause Diseases, &c. In Architecture, ‘tis properly the Scientifick Part, which being duly applied, not only direct the proper Method of taking due Measures and Proportions, but also by considering the Materials ascertains the Charge of any Structure before ‘tis begun. In Scripture, the Legal or Jewish Oeconomy is that system of Laws or Observations, that Nation or People were obliged to perform and observe both in their Religious and Moral State; the Christian Oeconomy is the Dispensation of Grace and Mercy delivered to Mankind by Christ and his Disciples; in Oratory, ‘tis the regular ordering or disposing the Speech or Subjects according to the Rules of Art.2