Home
/
RELIGION & LIBERTY ONLINE
/
Finding our economic voice: How markets are like language
Finding our economic voice: How markets are like language
Jul 2, 2025 11:53 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
Jimmy Lai innocent, Pope Francis silent on Hong Kong
A court has found Hong Kong dissident Jimmy Lai not guilty of intimidation. But that does not mean he, or Hong Kong, can rest easy – especially as he faces the prospect of life in prison without any public support from the most important institution in his life: the Vatican. As global political and thought leaders denounce Beijing’s encroachments, Pope Francis remains uncharacteristically silent. Lai, the self-made billionaire publisher of the Apple Daily newspaper, could have been sentenced to five...
From CARES to worries: The post-COVID economy calls for bold entrepreneurship
After months of facing the coronavirus, Americans now face a spreading virus of evictions. More than 5,845,000 Americans have tested positive for COVID-19 since it reached the United States. As a result, almost 18 million people have lost their jobs or were forced to remain at home in order to protect themselves and their families from the novel coronavirus. Beginning at the end of March, the CARES (Coronavirus Aid, Relief, and Economic Security) Act, passed by Congress and signed into...
How to beat the ‘social recession’ of COVID-19
Before the COVID-19 crisis began, America was already facing a severe loneliness epidemic – marked by decades-long increases in suicide and chronic loneliness and declines in marriage munity attachment. Now, amid flurries of sweeping lockdowns, the struggle has e harder still, pushing any remnants of munity deeper into the confines of social media. We are facing a “social recession,” argues the Manhattan Institute’s Michael Hendrix, driven by a mix of stress over public health, economic anxiety, and the isolating effects...
C.S. Lewis and Nicolás Maduro on Venezuela’s plunging birthrate
The birth of a child is life’s greatest joy – unless a dictator is asking you to have children to increase his personal power base, and he has destroyed the economy so badly that you can’t feed yourself. That is the situation in Venezuela. “Every woman should have six children for the good of the country,” said Bolivarian socialist Nicolás Maduro in March. He urged the nation’s women to “give birth, give birth” in order to “grow the country.” In...
Acton Line podcast: Using social media for good with Daniel Darling
On February 4th, 2004, a sophomore at Harvard University by the name of Mark Zuckerberg launched TheFacebook. At the time, the social networking website was limited to only students at Harvard. And while other social networking platforms like MySpace and Friendster predated the launch of Facebook, it was that February day in Cambridge, Massachusetts that the age of social media was truly born. Today, Facebook boasts 2.5 billion active users, is available in 111 languages, and is the 4th most...
Jimmy Lai verdict expected this week
Like his fellow Hong Kong citizens, Jimmy Lai faces a date with destiny. A Chinese judge will decide on Thursday whether the Catholic dissident publisher goes to jail for up to five years over trumped-up intimidation charges. Lai stands accused of purportedly intimidating a reporter at a Tiananmen Square memorial in 2017. But the evidence shows Lai should have felt threatened. The Apple Daily founder says the reporter has stalked him for years on behalf of rival Oriental Daily News,...
Justice demands ‘Just Money’
Widespread civil unrest, social media fueled hysteria, and political polarization have infected our public life. Vice President Joe Biden suggested on Monday that these problems have been fomented by his opponent. President Donald Trump likewise suggested that it is his political opponents, including Vice President Biden, who are responsible. Both answers are politically convenient for the candidates but fail to take into account the international nature of the revolt of the public against elites of all parties and cliques. Our...
Donald Trump’s bad prescription for drug prices
The final night of the 2020 Republican National Convention included powerful lines promoting the Trump administration’s drug price policies. President Donald Trump claimed that his recent executive orders on drug prices “will massively lower the cost of your prescription drugs.” His daughter Ivanka likewise said that her father “took dramatic action to cut the cost of prescription drugs.” In 2015, U.S. Americans spent more than twice the OECD average on prescription drugs. Trump signed a price control-based executive order in...
Thank God for single-use plastic bags
Perhaps the only positive thing e from the COVID-19 global pandemic has been the way it exposed a raft of never-needed regulations imposed by every level of government. Unfortunately, rather than repealing one such ordinance which could contribute to the spread of the coronavirus, the UK’s Conservative government has literally doubled down. The government-mandated cost of single-use plastic bags at groceries and stores will double, from five pence each to 10, beginning next April. Environment Secretary George Eustice also announced...
Kellyanne Conway and America’s politically fractured families
Kellyanne Conway likely gave her last public speech in her role as White House adviser on Wednesday night at the Republican National Convention. The Conway clan’s political divisions mirror the growing bitterness that has e ingrained in families nationwide as America es more politicized, more secular, and less tolerant of philosophical diversity. The Conway family’s carnage has played out painfully on social media. Kellyanne Conway distinguished herself as a pollster before guiding Donald Trump’s successful presidential campaign. She has served...
Related Classification
Copyright 2023-2025 - www.mreligion.com All Rights Reserved