'(Economy) means, the administration of a house; its stewardship; spending or saving, that is, whether money or time, or anything else, to the best possible advantage. In the simplest and clearest definition of it, economy, whether public or private, means the wise management of labour; and it means this mainly in three senses; namely, first applying your labour rationally; secondly preserving its produce carefully; lastly distributing its produce seasonably.

John Ruskin, 'Political Economy of Art', Lecture delivered in Manchester 1857.