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I think that Peter Sillman is making too sharp a distinction between the  
two meanings of the word economist.   
 
The ancient sense is of the efficient management of an estate. This  
sense still exist. When I was in grade school, the girls were taught  
something called "Home Economics," meant to instill the efficient  
management of a household.   
 
The modern term 'political economist' implied the efficient management of a 
country. 
 
The rise of the liberal view that the private sphere did not require  
management by the state, made the use of the two word phrase  
'political economy' inappropriate. The study of economics became a  
study of how the private sphere manages inself without a central  
authority.   
 
Rod Hay 
 
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