C++17

Laeeth Isharc via Digitalmars-d digitalmars-d at puremagic.com
Wed Jan 27 13:58:06 PST 2016


On Wednesday, 27 January 2016 at 17:11:18 UTC, jmh530 wrote:
> On Wednesday, 27 January 2016 at 16:40:11 UTC, Laeeth Isharc 
> wrote:
>> and it's more governed by the principle of catallaxy discussed 
>> by Hayek
>
> Principle of spontaneous order might be appropriate.

One and the same.
https://en.wikipedia.org/wiki/Catallactics

Note this bit especially - Hayek's suggested Greek construction 
would be rendered καταλλαξία) from the Greek verb katallasso 
(καταλλάσσω) which meant not only "to exchange" but also "to 
admit in the community" and "to change from enemy into friend."

https://en.wikipedia.org/wiki/Catallactics

Catallactics is a theory of the way the free market system 
reaches exchange ratios and prices. It aims to analyse all 
actions based on monetary calculation and trace the formation of 
prices back to the point where an agent makes his or her choices. 
It explains prices as they are, rather than as they "should" be. 
The laws of catallactics are not value judgments, but aim to be 
exact, objective and of universal validity. It was first used 
extensively by the Austrian School economist Ludwig von 
Mises.[citation needed]

Catallactics is a praxeological theory, the term catallaxy being 
used by Friedrich Hayek to describe "the order brought about by 
the mutual adjustment of many individual economies in a 
market."[1] Hayek was dissatisfied with the usage of the word 
"economy" because its Greek root, which translates as "household 
management", implies that economic agents in a market economy 
possess shared goals. He derived the word "Catallaxy" (Hayek's 
suggested Greek construction would be rendered καταλλαξία) from 
the Greek verb katallasso (καταλλάσσω) which meant not only "to 
exchange" but also "to admit in the community" and "to change 
from enemy into friend."[2]

According to Mises (Human Action, page 3) and Hayek[3] it was 
Richard Whately who coined the term "catallactics". Whately's 
Introductory Lectures on Political Economy (1831) reads:[4]

     It is with a view to put you on your guard against prejudices 
thus created, (and you will meet probably with many instances of 
persons influenced by them,) that I have stated my objections to 
the name of Political-Economy. It is now, I conceive, too late to 
think of changing it. A. Smith, indeed, has designated his work a 
treatise on the "Wealth of Nations;" but this supplies a name 
only for the subject-matter, not for the science itself. The name 
I should have preferred as the most descriptive, and on the whole 
least objectionable, is that of CATALLACTICS, or the "Science of 
Exchanges."



More information about the Digitalmars-d mailing list