catallaxy
/ˈkætəˌlæksi/
Word Rarity
Very rare
Frequency: Zipf frequency 0.00 in modern English
21
Scrabble Score
9
Letters
2
Syllables
6
Unique Chars
Meaning
Example Sentences
- "Catallaxy is distinguished from conventional political science by its focus on the science of complex exchanges. Whereas catallaxy views politics and the political process in terms of the voluntary exchange paradigm, the focus of political science is on the nonvoluntary relationships among individuals involving power and/or coercion."
- "It would be possible to depict the catallaxy as seen from the perspective of any particular entrepreneur or enterprise. This depiction would show the main features of that enterprise's operation within the catallaxy. But that enterprise is embedded with a catallaxy of myriad other enterprises, each of which operates with a map of its relevant catallaxy that is simpler by far than the entire catallaxy."
Etymology
From Ancient Greek καταλλάσσω (katallássō, “to exchange”). Popularized by economist Friedrich Hayek.
Origin
Word Breakdown
- Root: καταλλάσσω