Home
/
RELIGION & LIBERTY ONLINE
/
Finding our economic voice: How markets are like language
Finding our economic voice: How markets are like language
Jan 29, 2026 7:35 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
Attorneys General line up to attack free speech
By now, readers should be aware of the campaign waged against the Competitive Enterprise Institute led by Al Gore and a cadre of attorneys generals with New York Attorney General Eric Schneiderman at the top of the rogues’ gallery. The subpoena goes so far as to demand CEI produce “all documents munications concerning research, advocacy, strategy, reports, studies, reviews or public opinions regarding Climate Change sent or received from” such specifically named think tanks as the Acton Institute, The Heartland...
New Issue of the Journal of Markets & Morality (19.1)
Our most recent issue of the Journal of Markets & Morality, vol. 19, no. 1, has now been published online and print issues are in the mail. In addition to our regular slate of articles examining the intersections between faith, freedom, markets, and morality, this issue contains a new entry in our Scholia special feature section: “Advice to a Desolate France” by Sebastian Castellio. Writing in 1562, Castellio was one of the first early modern defenders of freedom of religion...
Samuel Gregg: Think twice before you condemn bankers
In the May 20 issue of the London-based Catholic Herald, Acton Research Director Samuel Gregg has a new piece that draws on his book For God and Profit: How Banking and Finance Can Serve the Common Good. “Rather than simply engaging in blanket condemnations that occasionally verge on moralism and which reflect little actual knowledge of the financial sector, we should follow our forebears’ example by first seeking to understand modern financial practices,” Gregg writes. The article is not currently...
Audio: Michael Matheson Miller Talks Poverty, Inc. in Adelaide, Australia
The Poverty, Inc. documentary continues to make waves around the world, including the land down under. Acton Institute Research Fellow and director of Poverty, Inc. Michael Matheson Miller was featured last week on Radio Adelaide in Adelaide, Austrailia in advance of a showing of the film there. You can listen to the interview via the audio player below. ...
5 facts about China’s Cultural Revolution
This month mark the fiftieth anniversary of the China’s Cultural Revolution. Here are five factsyou should know about one of the darkest times in modern human history: 1. The Cultural Revolution — officially known as the Great Proletarian Cultural Revolution — was a social and political movement within China that attempted to eradicate all traces of traditional cultural elements and replace them with Mao Zedong Thought (or Maoism), a form of Marxist political theory based on the teachings of the...
Explainer: What is Brexit, and Why Should You Care?
What is Brexit? British, Irish, and Commonwealth citizens will vote next month on the question “Should the United Kingdom remain a member of the European Union or leave the European Union?” Brexit is merely the shorthand abbreviation for “British exit,” which refers to the UK leaving the European Union. What is the European Union? After two World Wars devastated the continent, Europe realized that increasing ties between nations through trade mightincrease stability and lead to peace. In 1958, this led...
Wendell Berry: Great Poet, Cranky Luddite on Ag Tech
Image credit: Guy Mendes A new documentary, The Seer: A Portrait of Wendell Berry, misses the real story on U.S. farming productivity, says Bruce Edward Walker in this week’s Acton Commentary. Perhaps it’s the fact that the bulk of the film’s running time ignores two-thirds of what, for me, makes Berry so special – his fiction and poetry – in favor of what renders him more of a curmudgeon, which is his activism against industrial agriculture. Somebody cue up the...
Lessons on Christian Vocation from ‘Chewbacca Mom’
“It doesn’t matter how talented, how anointed, how gifted, how passionate, or how willing you are if you’re not fit to do the things that God has called you to do.” –Candace Payne Candace Payne, now widely known as “Chewbacca Mom,” became an internet sensation thanksto a spontaneous video in which she joyfully donned a toy mask of the beloved Wookiee. Having now broken multiple records for online views, Candace is now appearing ontalk shows and at media venuesacross the...
5 Facts About Genetically Modified Crops
In a massive new 420-page report, the National Academies of Sciences, Engineering and Medicine’s Committee on Genetically Engineered Crops summarizes their findings on the effects and future genetically engineered (GE) crops. Here are five facts you should know from the report: 1. Biologists have used genetic engineering of crop plants to express novel traits since the 1980s. But to date, genetic engineering has only been used widely in a few crops for only two traits — insect resistance and herbicide...
Religion & Liberty: Is there a cure for America’s discontent?
“2016 Presidential elections in Pittsburgh” by Gene J. Puskar, April 13, 2016. AP The snow has finally melted in West Michigan, which means it’s time for the year’s second issue of Religion & Liberty. Recent news cycles have been plagued with images of angry Americans, students protesting and populist discontent. The 2016 presidential election has really brought to light that the American people are angry—specifically with American leadership. Here at the Acton Institute, we’re interested in looking more deeply at...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved