One of the mysteries of the English language finally explained.
1A former economy; especially a state or system of political, social, or fiscal management or administration regarded as superseded, outmoded, or belonging to the past.
2Specifically. The economy as it relates to established manufacturing industries, agriculture, etc., as opposed to high-technology industries such as telecommunications, computers, Internet commerce, etc.; these industries as a sector of the economy.
Of or relating to established manufacturing industries, agriculture, etc., as opposed to high-technology industries. Now: especially of or relating to the economy as it was before the advent of commerce on the Internet; of or relating to a company that engages in little or no online commerce.
Mid 19th century; earliest use found in Biblical Repertory. From old + economy.
old economy/ˌəʊld ɪˈkɒnəmi/
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