In the Eastern Orthodox, Greek-Catholic Churches, Latin Catholic Church, and in the teaching of the Church Fathers which undergirds the theology of those Churches, economy or oeconomy (Greek: οἰκονομία, oikonomia) has several meanings. The basic meaning of the word is "handling" or "disposition" or "management" or more literally "housekeeping" of a thing, usually assuming or implying good or prudent handling (as opposed to poor handling) of the matter at hand. In short, economia is discretionary deviation from the letter of the law in order to adhere to the spirit of the law and charity. This is in contrast to legalism, or akribia (Greek: ακριβεια)—strict adherence to the letter of the law of the church.As such, the word "economy", and the concept attaching to it, are utilized especially with regard to two types of "handling": (a) divine economy, that is, God's "handling" or "management" of the fallen state of the world and of mankind — the arrangements he made in order to bring about man's salvation after the Fall; and (b) what might be termed pastoral economy (or) ecclesiastical economy, that is, the Church's "handling" or "management" of various pastoral and disciplinary questions, problems, and issues that have arisen through the centuries of Church history.
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