#catallaxy

Grant Thornton Affiliate Taps CipherTrace to Better Track Cryptos Used in Cybercrimes

A blockchain consultancy affiliated with accounting giant Grant Thornton is teaming up with CipherTrace to better track cybercrimes.

Catallaxy, a subsidiary of accounting firm Raymond Chabot Grant Thornton, which itself is a member firm of Grant Thornton International, announced the partnership with the cryptocurrency intelligence firm on Thursday. In a press statement, the company said it…

"Catallactics," Hayek says on the other hand, "was derived from the Greek verb katallatein (orkatallasein) which meant, significantly, not only `to exchange' but also `to admit into the community' and `to change from enemy into friend'." Someone who studies the market process would be called a "catalactist" rather than an "economist."

The catallaxy is a spontaneous order, for which the Greeks had another word: kosmos. Oxford defines "cosmos" as "the universe as an ordered whole; an ordered system of ideas, etc; the sum total of experience." "Catallaxy" and "cosmos" are synonyms for this self-organizing and self-regulating system, although catallaxy is more specific to human affairs, especially to market phenomena.

蝶を夢む 萩原 朔太郎（政治公論社「無限」編集部）

Is it time for us to abandon Capitalism as a term?  As Wikipedia describes, 

First discussed by Ludwig von Mises, Catallaxy was later coined and made popular by Friedrich Hayek who defines it as follows:

‘the order brought about by the mutual adjustment of many individual economies in a market’.

Hayek derived the word from the Greek word ‘katallasso’ (καταλλάσσω) which meant not only ‘to exchange’ but also ‘to admit in the community’ and ‘to make friends’.

Pros:

we can abandon most of the linguistic baggage that leftists have hung onto the word "Capitalism"

we can more easily distinguish between the free market system that we are talking about from the Mercantilist/Corporatist policies which are actually in existence

it's a pleasant term which rolls off the tongue

Cons:

virtually nobody outside of Austrian economics has heard of the term, whereas Capitalism has a long, popular history, worldwide, thanks to US Cold War propaganda

it kind of sounds like "Cadillac-sy", which might still play into silly leftist charges of elitism.