pol|i|cy

pol|i|cy¹ «POL uh see», noun, plural -cies.

1. a plan of action; way of management: »

government policies. It is a poor policy to promise more than you can do. The tight-money policy was also reducing the pressure on prices (Time).

2. practical wisdom; prudence: »

In this…he was actuated by policy rather than sentiment (Edward A. Freeman).

3. political skill or shrewdness: »

Never did base and rotten policy Colour her working (Shakespeare).

4. Obsolete. the conduct of public affairs; government.

╂[< Old French policie, learned borrowing from Late Latin polītīa state organization < Latin, citizenship < Greek polīteíā citizenship, polity < polēs citizen < pólis city-state. See etym. of doublets police (Cf. ↑police), polity. (Cf. ↑polity)]

pol|i|cy² «POL uh see», noun, plural -cies.

1. a written agreement about insurance; contract between insurer and insured: »

My fire insurance policy states that I shall receive $35,000 if my house burns down.

2. U.S. a method of gambling by betting that a certain number will be drawn in a lottery or will appear in a published statistic.

╂[< Middle French police < Italian polizza written evidence of a transaction, ultimately < Latin apodīxis proof < Greek apódeixis proof, publication, declaration]