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2005 & 2009 comments

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I think the Wikipedia fits well the definition of catallaxy that Hayek gave it: a self-organizing system of voluntary co-operation; but instead of a free market of dollars and cents we have a free encyclopedia of words and letters.--Nathan w cheng 09:16, 8 Jan 2005 (UTC)

You are right! But this is what I am missing in the article. I am reading 'Whately only'. Of course Hayek had no clear definition of Catalaxy. He made the recommendation to replace the expression 'economy' by the expression 'catalxy'. It was more an intuitive feeling about the fact that our economic theory does cover the past (from household economy to industrial economics) but not the future. 'to exchange and make friends' as Hayek recommends is what a knowledge society is about (and Wikipedia is the best known example of it).

There is a German economist (Christopher Frey) is taking up the expression 'Catalaxy' and using it for knowledge economics in his latest book 'Just too Lazy to lie' (the English version is available yet in German bookstores, amazon.de etc, but delayed in US/UK).

I do not think that we have to citate Christopher Frey in the articel but by the year 2009 and with a knowledge-based society ahead we should have something more recent than Whately.--stb 00:23, 21 April 2009 (UTC)

In his book "Mathematic Psychics," F.Y. Edgeworth refers to Catallactics (he capitalizes it), has having been "worked out" by Jevons, Marshall and Walras. The reference is on page 515 in S. Medema and W. Samuels, "The History of Economic Thought: A Reader" (Second Edition, New York: Routledge, 2013). This would imply that it was a pretty widely used term in economics in the 19th century, whereas the entry here implies that its primary use dates to von Mises, following Whately's original introduction. Could it be that after widespread use among mainstream economists in the 19th century, its use was taken up in the 20th century by Austrians and others close to them but dropped in the mainstream? (I don't know.) — Preceding unsigned comment added by 69.29.70.229 (talk) 20:07, 1 November 2015 (UTC)[reply]

Where is the weighty treatment by Hayek?

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Without taking away from the existing content, it is nevertheless crude and so rudimentary as to be misleading.

The topic deserves a learned summary of Hayek's extensive treatment of catallaxy in Law, legislation and Liberty, specifically, but not only, Vol II. Not just the rather dumbed-down and extremely truncated quote cited here thus far (did it come from quotable quote web site?).

It is intriguing to note that the intellectual and ideological defence for robber baron capitalism is so ill defined in this American forum, since the USA today is the home to the most unbridled form of it in the world.

I would be grateful if I were spared the rather trite, but apparently obligatory lecture that if I see a flaw here I should seek to rectify it myself.

The simple truth is that the work is complex, time-consuming and bound to meet with the petulant disapproval of some snot-nose without the necessary education to evaluate it, but with the sufficient connection to administrators to vandalise it.

I prefer to direct my energies in undertaking this work, and it is work I am undertaking, in a manner that is not quite so subject to a deplorable American tendency towards anti-intellectual reductionism, particularly in the humanities, so evident here these days. Peter S Strempel | Talk 06:07, 13 May 2012 (UTC)[reply]

Catallactic bias

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Joseph Heath writes about the catallactic bias in contemporary social contract theory and political philosophy in The Benefits of Cooperation Philosophy and Public Affairs, 34 (2006): 313-351. Heath writes that "...much of contemporary social contract theory has been marked by what might be referred to as a catallactic bias, which result[s] from a tacit conceptual privileging of gains from trade as the primary mechanism of cooperative benefit." Heath suggests the invisible hand theorem of welfare economics has been a source of this catallactic bias, and that "...this theorem focuses only upon one mechanism of cooperative benefit to the exclusion of all others." For the record, Joseph Heath identifies five independent mechanisms of cooperative benefit, as follows.

  1. Economies of scale
  2. Gain from trade
  3. Risk pools
  4. Self binding
  5. Information transmission

FLengyel (talk) 02:43, 5 June 2012 (UTC)[reply]

A brief excerpt from The Benefits of Cooperation: 

 The major impact of catallactic thinking in political philosophy
 has been to promote a highly misleading account of the role that the
 welfare state plays in a capitalist economy. More specifically, it has 
 encouraged the widespread perception that, when it comes to efficiency,
 the central functions of the welfare state are all residual.

It is not clear to me at this point whether Heath's criticism should be mentioned in the article or how it should be introduced. Nevertheless, the catallactic bias appears to be pervasive in business and political journalism in the US and the UK. FLengyel (talk) 12:37, 5 June 2012 (UTC)[reply]

Comment:

Heath says in his paper, "Indeed, I will attempt to show that not only does market exchange fail to promote certain types of cooperative benefit, but the relevant set of institutions often interferes with our ability to produce such benefits. Thus we often face hard choices when it comes to determining the structure of our social institutions – long with significant social conflict over the type of cooperative benefits that should be accorded priority."

It's more than a little daft when an author's critique of this subject is that it doesn't help him with his "cooperative benefits" economic calculation problem

Ludwig von Mises himself would have said, "Cooperative benefits? More like, co-opted. Socialists can't calculate." — Preceding unsigned comment added by 140.163.254.152 (talk) 17:41, 27 December 2012 (UTC)[reply]

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