Home
/
RELIGION & LIBERTY ONLINE
/
Finding our economic voice: How markets are like language
Finding our economic voice: How markets are like language
May 4, 2025 3:11 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
Orthodox Priest: Chuck Colson’s repentance ‘deep and lasting’
On the Observer, the blog of the American Orthodox Institute, Rev. Johannes L. Jacobse looks back on the life and the legacy of Chuck Colson: I heard him explain his experience in prison during one of his talks. It was the lowest point in his life where he had lost everything and began to question purpose, decisions, and direction. He was visited by a friend (former Minnesota Governor Al Quie) who shared with him how Jesus Christ came into the...
Chuck Colson: A Life Redeemed
mon thought many people have about conversion is that a person who has undergone the experience is wholly different before and after. Surely this is true in the order of grace, in that a man goes from darkness into light, from sin into being made cleansed. Yet, the personality remains the same even if it es reordered and redirected, sometimes astonishingly so. Such was the case with Peter, and with Paul, with Augustine and more contemporaneously, with my good friend...
In Praise of the Book . . . On World Book and Copyright Day
What would our life be without books? Books teach, entertain, encourage and give invaluable perspectives that allow each of us to grow and deepen our life and faith. If we asked every person who will read this blog post about their favorite book, we would get a rich tapestry of stories full of warm memories. And we are not alone in our love for books. Read a few of these wonderfully emotive quotes: The things I want to know are...
Kishore Jayabalan: Vatican supports dignity of work
The Detroit News editorial page today features Kishore mentary regarding the pro-business statement made by the Pontifical Council for Justice and Peace (PCJP). Jayabalan, Director of Istituto Acton in Rome, says this: It may be easier to describe the contents of the PCJP statement by saying what it is explicitly not. It is not a policy statement on the merits of financial regulations such as Sarbanes-Oxley or the Tobin Tax. It is not a call-to-action to storm the barricades and...
How to Ruin the Military in One Easy Step
Since April is a time for Spring cleaning, the Washington Post asked a handful of writers what “unnecessary traditions, ideas and institutions” we should toss out with other clutter in our lives. Thomas E. Ricks, a Pulitzer-prize winning journalist, thinks we should discard the all-volunteer military. This is precisely the reason it is time to get rid of the all-volunteer force. It has been too successful. Our relatively small and highly adept military has made it all too easy for...
The Bible and the Budget
The Christian Post recently interviewed Acton’s Jordan Ballor about biblical principles and the federal budget: Ballor and Good were both in agreement with Sider that the large national debt, now over $15.6 trillion, is immoral in the way it passes debt from one generation to the next. Sider deserves a lot of praise, Ballor said in the interview, for bringing attention to the severity of the debt crisis. “This is absolutely a moral problem. We have an irresponsible government. It...
College-Age Millennials Are Losing Their Religion
Younger Millennials (ages 18-24) report significant levels of movement from the religious affiliation of their childhood, mostly toward identifying as religiously unaffiliated, according to a new survey from the Public Religion Research Institute and Georgetown’s Berkley Center. The survey also finds that they support government intervention to address the gap between the rich and poor. Some of the highlights from the survey include: • While only 11% of Millennials were religiously unaffiliated in childhood, one-quarter (25%) currently identify as unaffiliated,...
New Video: Chuck Colson in ‘Like I Am’
Speaking of the time he spent in prison for his role in the Watergate scandal, Chuck Colson said: “I couldn’t have made it without Christ in my life, I know that. But I couldn’t have made it if there wasn’t in the back of my mind a belief that God had a purpose for this.” You’ll hear those words in “Like I Am,” a segment from the Acton Institute’s Our Great Exchange: Discover the Fullness of What it Means to...
Frank Schaeffer’s Chuck Colson Rant
Mark Tooley has a superb article at FrontPage Magazine addressing Frank Schaeffer’s rant against Chuck Colson. Tooley points out that voices across the political spectrum were gracious enough to give praise to the former Nixon aide, who after his evangelical conversion founded Prison Fellowship. Schaeffer is the notable and sorry exception. Schaeffer bitterly whined on his blog about Colson, “Wherever Nixon is today he must be ing a true son of far right dirty politics to eternity with a ‘Job...
Interview: Rev. Sirico on the Ryan Budget Plan
Napp Nazworth, a reporter for Christian Post, interviewed Rev. Robert A. Sirico about House Budget Committee Chair Paul Ryan’s budget plan, “The Path to Prosperity: A Blueprint for American Renewal.” Nazworth asked Rev. Sirico, Acton’s president and co-founder, to talk about how closely Ryan’s plan lines up with Catholic social teaching, as the Republican budget chair has claimed, and to speak to criticisms of the plan. “A group of about 60 politically liberal Christian leaders wrote a letter taking exception...
Related Classification
Copyright 2023-2025 - www.mreligion.com All Rights Reserved