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To smoke out of a tobacco pipe of Eastern origin with a long, flexible tube by which the smoke is drawn through a jar of water, while studying the social science that deals with the production, distribution, and consumption of goods and services and with the theory and management of economies or economic systems.
Person 1: "Hey you, lets do some Hookanomics!"
Person 2: "Sounds good! Light up the Hookah!"
by vb999 December 13, 2009
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