Etymology
In economics, the word integration was first employed in industrial organisation to refer to combinations of business firms through economic agreements, cartels, concerns, trusts, and mergers—horizontal integration referring to combinations of competitors, vertical integration to combinations of suppliers with customers. In the current sense of combining separate economies into larger economic regions, the use of the word integration can be traced to the 1930s and 1940s. Fritz Machlup credits Eli Heckscher, Herbert Gaedicke and Gert von Eyern as the first users of the term economic integration in its current sense. According to Machlup, such usage first appears in the 1935 English translation of Hecksher's 1931 book Merkantilismen (Mercantilism in English), and independently in Gaedicke's and von Eyern's 1933 two-volume study Die produktionswirtschaftliche Integration Europas: Eine Untersuchung über die Aussenhandelsverflechtung der europäischen Länder.
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Famous quotes containing the word etymology:
“Semantically, taste is rich and confusing, its etymology as odd and interesting as that of “style.” But while style—deriving from the stylus or pointed rod which Roman scribes used to make marks on wax tablets—suggests activity, taste is more passive.... Etymologically, the word we use derives from the Old French, meaning touch or feel, a sense that is preserved in the current Italian word for a keyboard, tastiera.”
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“The universal principle of etymology in all languages: words are carried over from bodies and from the properties of bodies to express the things of the mind and spirit. The order of ideas must follow the order of things.”
—Giambattista Vico (1688–1744)