Etymology
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reductionism (n.)

1948, in philosophy, from reduction in specialized sense in philosophy (1914) + -ism. Related: Reductionist.

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economic (adj.)

1590s, "pertaining to management of a household," perhaps shortened from economical, or else from French économique or directly from Latin oeconomicus "of domestic economy," from Greek oikonomikos "practiced in the management of a household or family" (also the name of a treatise by Xenophon on the duties of domestic life), hence, "frugal, thrifty," from oikonomia "household management" (see economy (n.)). Meaning "relating to the science of economics" is from 1835 and now is the main sense, economical retaining the older one of "characterized by thrift."

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macroeconomic (adj.)

also macro-economic, "pertaining to the economy as a whole," 1938, from macro- + economic.

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reductionist (n.)

1861 and after, "one who favors reduction" in various senses, from reduction + -ist. Philosophical sense, related to reductionism, is from 1934. Related: Reductionistic.

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economical (adj.)

1570s, "pertaining to household management;" from economic + -al (1). Sense of "pertaining to political economy" is from 1781, but that sense more commonly goes with economic, and the main modern sense of this spelling is "thrifty" (1780). Related: Economically.

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downturn (n.)

"a decline," 1926 in an economic sense, from the prepositional phrase; see down (adv.) + turn (n.).

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offshoring (n.)

in the economic sense, as a form of outsourcing, attested by 1988, from off-shore.

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deflation (n.)

1891, "release of air," noun of action from deflate (q.v.). In reference to currency or economic situations, from 1916. Related: Deflationary.

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hyperinflation (n.)

1925 in the economic sense, from hyper- "over, exceedingly, to excess" + inflation. Earlier as a medical term in treatment of lung diseases.

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