Friedrich Hayek used the term
Catallaxy to describe as "the order brought about by the mutual adjustment of many individual economies in a market."
[1] He was unhappy with the usage of the word "economy", feeling that the Greek root of the word - which translates as "household management" - implied that economic agents in a market economy possessed shared goals. Hayek derived the word "Catallaxy" (Hayek's suggested Greek construction would be rendered καταλλάξια) 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]
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