Definitions for Catallactics
catal·lac·tics

WiktionaryRate this definition:0.0 / 0 votes

1. catallacticsnoun

   A form of political economics based on the science of exchange

WikipediaRate this definition:0.0 / 0 votes

1. 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, empirical, and of universal validity. It was used extensively by the Austrian School economist Ludwig von Mises.Catallactics is a praxeological theory. The term catallaxy was used by Friedrich Hayek to describe "the order brought about by the mutual adjustment of many individual economies in a market." 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."According to Mises (Human Action, p. 3) and Hayek it was Richard Whately who coined the term "catallactics". Whately's Introductory Lectures on Political Economy (1831) reads: 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."

Webster DictionaryRate this definition:0.0 / 0 votes

1. Catallacticsnoun

   the science of exchanges, a branch of political economy

2. Etymology: [Gr. to exchange; kata` wholly + to change.]

WikidataRate this definition:0.0 / 0 votes

1. Catallactics

   Catallactics is the praxeological 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 and not 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. Friedrich Hayek used the term catallaxy to describe "the order brought about by the mutual adjustment of many individual economies in a market." He 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. Hayek derived the word "Catallaxy" from the Greek verb katallasso which meant not only "to exchange" but also "to admit in the community" and "to change from enemy into friend." According to Mises and Hayek it was Richard Whately who coined the term "catallactics". Whately's Introductory Lectures on Political Economy reads:

How to pronounce Catallactics?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say Catallactics in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of Catallactics in Chaldean Numerology is: 3

2. Pythagorean Numerology

   The numerical value of Catallactics in Pythagorean Numerology is: 5

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Catallactics
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Catallactics
3. ^ Webster Dictionary
   https://www.merriam-webster.com/dictionary/Catallactics
4. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=Catallactics