Home
/
RELIGION & LIBERTY ONLINE
/
Finding our economic voice: How markets are like language
Finding our economic voice: How markets are like language
Jan 27, 2026 4:49 PM

“In the field of social phenomena, only economics and linguistics seem to have succeeded in building up a coherent body of theory.” –Friedrich Hayek

In 1887, L. L. Zamenhof proposed a universal language as a means for ushering in a new era of international peace and prosperity. The language, now known as Esperanto, was carefully constructed to be easily absorbed and understood across cultures and countries, but it failed to take hold.

Zamenhof was focused on solving a knowledge problem in linguistics—struggling to improve the ways people relate and share information with each other. Yet his efforts were doomed from the start, set on constructing a system from top to bottom when language is far better suited to develop through organic, emergent human exchange.

The parallels to political economy are obvious and unavoidable. In a new short film from George Mason University’s Institute for Humane Studies, the intersection is explored at length, prompting serious reflection on the implications of spontaneous order—economic, social, moral, and otherwise.

“Language differences….can cause some serious problems,” the narrator observes. “Given our global economy and international politics, it’s worth wondering: Why don’t we just create a universal language?”

When observing the failures of top-down collectivist approaches to social solutions, the answer to the narrator’s question seems rather obvious: they doesn’t work.

Human were made to cooperate—to give and receive. And, as history continues to demonstrate, they do so more effectively, productively, and joyfully when allowed to create and exchange with more freedom and less organization or oversight.

“No one person designs these words,” the narrator explains, pointing back to language. “They emerge from the bottom up by people pursuing their own goals, creating words municate simple concepts for their own limited needs. And over time, without anyone intending it, these e to form an orderly whole—what we call a ‘language.; This process, of creating something big plex by no one’s design but by everyone’s action, is what economists…call spontaneous order.”

Spontaneous order is truly a wonder to behold, and free market advocates are right to relish in the results. Yet in observing such miracles, we should also be careful to properly attribute the source and interpret the implications.

Given that free markets can lead to remarkable efficiency—all through largely uncoordinated collaboration—many of those same advocates are just as quick to simply shrug at the inputs and outputs, trusting that the workings of the “invisible hand” will work it out lead us to whatever is best for society. We are to “trust the market,” as they say.

Yet to take such a perspective is to pretend that our economic interactions are just mere, momentary transactions—meaningless, isolated incidents that relate only to our own self-interest and self-provision. On the contrary, they are part of the bigger, ongoing story of human collaboration and civilization, bearing spiritual and moral weight and plenty of transformative social power, as well.

As economist Leland B. Yeager explains, markets—again, like language—illuminate the deeper connections between the human person and broader society, meaning we needn’t descend into either narrow individualism or reckless collectivism as we steward our corresponding action:

Language is a prime example of the sense in which the individual is a product of his society. The example is relevant to political economy—the area of overlap among economics, political science, and philosophy—and to questions of a suitable blend of individualism munitarianism in the shaping of institutions and policies. In these interactions, language and ethics display parallels; and related questions concern, for example, life-styles and role models for youth growing up in munities.

All the words and meaning and structure of a language existing at a given time were contributed by individuals, mostly members of earlier generations. Each person grew up “into” an already functioning language. It shaped his thoughts, values, and activities. Words convey moral appraisals—for example, “murder,” “shabby,” “pig-headed,” “tenacious,” “principled.” Without using socially given words and sentence structures, each of us could hardly think or reason at all. Yet, language results from the interplay of individual minds. Each individual and perhaps each generation has been influenced more by language than he or it has influenced language. Yet it, like moral traditions, is the creation of all individuals, past and present.

The lesson from L. L. Zamenhof’s failed language is clear: there’s a predictable futility in trying to plan our way to peace and prosperity from the top to the bottom. But such a realization points to a second lesson, which is just as important: our individual action and associational lives also bear moral weight and purpose.

With economic freedom, a resulting order may e “without intent,” but our own voice—our own “intent” to work for our neighbors and serve God through our economic activity—is still essential to ensuring that order is both good and just, connecting moral tradition and human civilization past, present, and future.

Image: Poster for the second World Esperanto Congress at Geneva, 1906

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
Trade as fellowship: How tariffs hinder human relationship
As free traders continue to struggle with President Donald Trump’s proposed tariffs on imported steel and aluminum, it can be easy to focus only on the immediate or surface-level effects, whether we’re fretting over a spike in consumer prices, a slowing of economic growth, a decrease in dynamism at home, or a strain on foreign relations abroad. Those are legitimate concerns, to be sure. But in addition to any threats to material wellbeing or national security, such protectionism also inhibits...
The long road back from Communism
“In 1989, Communismfinally collapsed,” writes Mihail Neamţu, a Romanian thinker and public intellectual, in this week’s Acton Commentary. “On our first official munistChristmas holiday, my family was hoping that the political landscape of Eastern Europe would quickly be shaped by healthy democratic institutions, secure private property and free trade, petition, as well as a robust sense of personal responsibility.” Nearly 20 years later, the anticipated reforms have been abandoned, the economy sputters, and Romanian society remains stubbornly statist: State monopolies...
The broom prophet: Lessons from a craftsman on sanctified work
Throughout its history, the American economy has transitioned from agrarian to industrial to information-driven. In turn, “work with the hands” has e less and mon, replaced by widespread automation and a host of intangible services. Meanwhile, a quiet resurgence in craftsmanship has begun, whether one looks to the massive online marketplaces for handmade goods or the diverse range of specialized artisans who continue to find niches in a globalized economy. Take Jack Martin, owner of Hockaday Handmade Brooms, who still...
How real GDP helps us know if we’re ‘better off’ than before
Note: This is post #71 in a weekly video series on basic economics. “Are you better off today than you were 4 years ago? What about 40 years ago?” These sorts of questions invite a different kind of query, says Alex Tabarrok: what exactly do we mean, when we say “better off?” And more importantly, how do we know if we’re better off or not? To those questions, there’s one figure that can shed at least a partial light: real...
Radio Free Acton: Business FX on purpose and fulfillment in the workplace; Econ Quiz on tariffs; Upstream on the beat poets
On this episode of Radio Free Acton, John Couretas, Director of Communications at Acton, talks to Phil Sotok, management consultant with DPMC, examining purpose, fulfillment and ethics in the workplace. Then, on the Econ Quiz segment, Caroline Roberts speaks with Aquinas College professor of economics, Dave Hebert on the newly proposed steel and aluminum tariffs. Finally, on the Upstream segment, Bruce Edward Walker discusses the beat poets with Robert Inchausti, professor of english at California State Polytechnic University. Check out...
What has God got to do with banking and finance?
In the latest edition of The Independent Review, Gerald P. Dwyer Jr. reviews Samuel Gregg’s For God and Profit: How Banking and Finance Can Serve the Common Good. “The most unusual aspect of Gregg’s book is bination of topics advertised in its very title: For God and Profit,” says Dwyer, “We all know about defenses of free markets. God seldom appears in those arguments. What has God got to do with it?” Catholic social teaching is the framework Gregg uses...
Teaching and learning for a free and virtuous society
‘Anno Szilvásvárad’ Reformed school, lesson by Globetrotter19 CC BY-SA 3.0 Once upon a time I was a teacher. A regular ‘according-to-Holye’ teacher of English, History, Government, and Economics in public high schools. The reasons I am no longer a teacher are relatively simple and boring. I couldn’t find a full-time position in the place that I grew up in and that I loved. This other Eden… demi-paradise… this precious stone… set in the silver sea of this earth, this ground…...
How managers can help save the world
Why are some countries rich while other countries are poor? A primary reason, as economists have been pointing out for hundreds of years, is productivity—the efficient use of such resources as labor and capital. Imagine that panies have the same number of workers and use the same amount of materials to make identical widgets. pany A is able to make 100 widgets in the time it pany B to produce 50 widgets. Company A obviously has some “secret sauce” that...
What Christians should know about tariffs and balance of trade
Note:This is the latest entry in the Acton blog series, “What Christians Should Know About Economics.” For other entries inthe series seethis post.The purpose of the series is not to present a theology of economics, but simply to provide a basic level of understanding that will help Christians think more clearly about how to apply their mitments to economics and public policy. The Term: Tariffs and Balance of Trade What it Means:Balance of trade is the difference in value over...
The winter of our disconnect: Green energy policies leave Europe out in the cold
“Human beings are called to be fruitful, to bring forth good things from the earth, to join with God in making provision for our temporal well being,” according toThe Cornwall Declaration On Environmental Stewardship,of whichActon Institute co-founder Fr. Robert Sirico was an original signer. “Our call to fruitfulness, therefore, is not contrary to but plementary with our call to steward God’s gifts.” This article about transatlantic policies thatput human well-being into opposition with environmental stewardship, whichappeared in MEP Daniel Hannan’s...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved