Catallactics

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At a glance

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Notion

Domain

Science and technology

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What Wikipedia says

Catallactics or catallaxy 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 agents have made choices. It explains prices as they are, rather than as they "should" be.

Excerpt from the Wikipedia article “Catallactics”, under the CC BY-SA 4.0 license. Read the article on Wikipedia