catallactics

English

Etymology

Literally, “science of exhanges”, from Ancient Greek καταλλάσσω (katallássō, “to exchange, reconcile”). Probably coined by British economist Richard Whately in 1831.

Pronunciation

• IPA^(key): /ˌkætəˈlæktɪks/

Noun

catallactics (uncountable)

1. (economics) A form of political economics based on the science of exchange.
   • 2005, Raimondo Cubeddu, The Philosophy of the Austrian School, Routledge, →ISBN, page 98:

     Catallactics is thus «the order brought about by the mutual adjustment of many individual economies in a market» […]

Related terms

• catallactic
• catallaxy