Home
/
RELIGION & LIBERTY ONLINE
/
Finding our economic voice: How markets are like language
Finding our economic voice: How markets are like language
Jan 14, 2026 6:20 AM

“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
Samuel Gregg: Charles de Gaulle could have prevented the Brexit debate
The integration of Europe in the postwar era continues to roil politics continent-wide, most notably taking center stage in this week’s UK general election. Yet Acton Institute Director of Research Samuel Gregg writes that Charles de Gaulle could have spared Europe this future. Gregg traces the history of European supranationalism from Immanuel Kant to Jacques Maritain’s Christian Democratic ideas in a new essay posted today at Law & Liberty. De Gaulle, although far from an isolationist, understood the reality of...
The Virtue of Liberalism
Today, Law & Liberty published the text of my lecture for the Philadelphia Society in October: “Why Economic Nationalism Fails.” The topic for the panel was “Conservatism and the Coming Economy.” Since I’m not a determinist and doubt my own powers of prediction, I focused on what political economy conservatives ought to support in the future, despite worrying trends in the present: Conservatives ought to reaffirm the good of economic liberty, both domestically and internationally. Free markets and free trade,...
Video: David Hebert on how ice got to India
The 2019 Acton Lecture Series wrapped up last week Thursday with a lecture by David Hebert,assistant professor of economics and director of the Center for Markets, Ethics, and Entrepreneurship at Aquinas College. Hebert told the story of Frederick Tudor, a Boston entrepreneur who in the early 1800s set about finding a way to transport ice to Cuba, believing that given the opportunity, Cubans would pay handsomely for the resource. It wasn’t easy, but in the end he was right, and...
How reason and faith complement each other
Faith and reason are mutually reinforcing. When faith and reason bined, faith is kept from metastasizing into irrationality and reason is kept from ing overly materialistic. bination of faith and reason is the foundation of Western Civilization. In a new review of Samuel Gregg’s book, Reason, Faith, and the Struggle for Western Civilization, Gene Veith of Patrick Henry College notes that “[t]he scholastic theology of Roman Catholicism, grounded as it is in Aristotelian philosophy, does indeed integrate faith and reason,...
An encyclical on China and the US?
Sen. Marco Rubio’s recent speech on capitalism and mon good, taking its point of departure in Rerum Novarum, has gotten a good bit of coverage. Yesterday he delivered remarks at the National Defense University and opened with these words: This morning I am honored to speak here at the National Defense University to discuss the defining geopolitical relationship of this century: the one between the United States and China. Unfortunately, I was unable to find a papal encyclical on this...
Brian Tierney, rest in peace
The world of medieval history suffered a great loss on November 30 with the death of Professor Brian Tierney. Widely recognized as a leading scholar of medieval Western Christianity and how church law and institutions affected the broader culture of Europe, Tierney wrote widely but also deeply on topics ranging from the origins of papal infallibility to how religion shaped the development of constitutionalism. Born in 1922, the formative experience for Tierney was, like for most of his generation, the...
Wilhelm Röpke on liberalism and Catholic social teaching
This week’s Acton Commentary, adapted from my preface to the newest Acton Institute publication The Humane Economist: A Wilhelm Röpke Reader, illustrates what makes Röpke such an interesting and vital economist: Röpke saw his project in holistic terms involving intersecting and interdependent spheres or orden that to be fully appreciated and understood scientifically must be examined in their economic, social, and moral dimensions. mitments to mainline economic analysis, the importance of social institutions, and the moral and religious framework of...
The road to London Bridge is paved with self-loathing
The day after Thanksgiving, the world saw a murderous terrorist prevented from maximizing his death toll by desperate people armed with nothing more than personal courage, a narwhal tusk, and a fire extinguisher. As I write at The Stream, unless the West jettisons its paralyzing doubt of itself and its historic faith, that scene threatens to e an “epoch-defining event.” Naively believing that all religions are alike, and that Western capitalism is uniquely exploitative, renders European culture incapable of understanding...
Trade war hits home: How tariffs disrupt American businesses
Despite the “America-first” claims of trade protectionists and economic nationalists, we continue to see the ill effects of the Trump administration’s recent wave of tariffs—particularly among American businesses, workers, and consumers. Alas, while such controls may serve to temporarily benefit a select number of businesses or industries, they are just as likely to distort and contort any number of other fruitful relationships and creative partnerships across the economic order—at home, abroad, and everywhere in between. In a recent article for...
Hugo Chavez and Jack London on why socialism kills
In an emotional story in the January 2020 issue of Reason, Jose Cordiero relays how “socialism killed my father” – through economic scarcity. His article highlights the life-and-death stakes of wealth creation. Cordiero writes that he was working in Silicon Valley when he got a call that his father had experienced kidney failure in Caracas. Yet even traveling to Bolivarian Venezuela became virtually impossible. The economic collapse ushered in by Hugo Chavez’s socialist policies dried up demand: Indeed, the number...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved