Home
/
RELIGION & LIBERTY ONLINE
/
Finding our economic voice: How markets are like language
Finding our economic voice: How markets are like language
Jan 22, 2026 12:21 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
Father Crosby and ‘Losing Money on Purpose’
Shareholder resolutions intended to force Exxon Mobil Corp. and Chevron Corp. to adopt greenhouse gas reduction goals and name environmental experts (i.e. any scientist who believes human activity causes climate change) to their respective board of directors were defeated last week. Not only were they defeated, they were crushed. Chevron shareholders mustered only 9 percent support for GHG reductions and 20 percent for the environmentalist board member. Eighty percent of ExxonMobil shareholders rejected the additional board member, and only 10...
Explainer: What You Should Know About the Patriot Act and the Freedom Act
Why is the Patriot Act back in the news? Last night three key provisions of the law were allowed to expire (at least temporarily) after Senator Rand Paul (R-KY) blocked an extension of the program during a Sunday session of the Senate. What is the Patriot Act? The official title of the law is the USA Patriot Act of 2001, an acronym for “Uniting and Strengthening America by Providing Appropriate ToolsRequired to Intercept and Obstruct Terrorism.” The 320-page law, signed...
How an Ex-Convict Learned to Worship Through His Work
Alfonso was looking for a “fast life,” and as a result, he got mixed up in illegal drugs and landed in prison. For many, that kind of thingmight signal the beginning of a patternor slowlydefineand distort one’s identity or destiny. But for Alfonso, it was a wake-up call. While in prison, he began to realize who he really was, and more importantly, whose he really was. He began to understand that God created him to be a gift-giver, and that...
EcoLinks 06.01.15
In the spirit of PowerLinks, we’ll be adding a regular roundup on news concerning Pope Francis’ ing encyclical on the environment and, more broadly, religious witness on environmental stewardship outside the Roman Catholic Church. This may be a daily PowerBlog feature, or you may see it less frequently depending on the volume of news mentary on the subject. If you haven’t got to it yet, make sure you watch Rev. Robert A. Sirico’s mentary on the encyclical, which was posted...
Reflecting On The Work Of Michael Novak: Charity, Civil Society, Free Markets
Today’s issue of Public Discourse offers a reflection on the life and work of Michael Novak. It would not be an exaggeration to say Novak is a towering figure in the world of free market economics. Author Nathaniel Peters says that while Novak has had his critics, the question that lies at the heart of all Novak’s work is this: “How do we get people out of poverty?” What economic systems are most conducive to allowing people to exercise their...
What Would The Founders Do About Welfare?
es to mind when you think of poverty policies prior to FDR’s New Deal? For many people, the idea of pre-1940s welfare is likely to resemble something out of a Charles Dickens’ novel: destitute adults in the poorhouse and hungry children (usually orphans) eating a bowl of gruel. That impression is likely what we have about welfare in America during the era of the Founding Fathers. But is it accurate? “The left often claims the Founders were indifferent to the...
Explainer: Religious Liberty and the Abercrombie Hijab Case
In the case of Equal Employment Opportunity Commission v. Abercrombie & Fitch Stores, Inc., the U.S. Supreme Court ruled on Monday that employers must offer a reasonable modation for an employee’s religious practices. Here is what you should know about that case. What was the issue that sparked the lawsuit? Samantha Elauf, a 17-year-old Muslim girl from Tulsa, Oklahoma, applied for a job at Abercrombie, a preppy clothing retailer, in 2008. After being interviewed by Heather Cooke, the store’s assistant...
EcoLinks 06.02.15
Cardinal Turkson: together for stewardship of creation Cardinal Peter K.A. Turkson, Vatican Radio Despite the generation of great wealth, we find starkly rising disparities – vast numbers of people excluded and discarded, their dignity trampled upon. As global society increasingly defines itself by consumerist and monetary values, the privileged in turn e increasingly numb to the cries of the poor. Pope Francis endorses climate action petition Brian Roewe, National Catholic Reporter “He was very supportive,” Tomás Insua, a Buenos Aires,...
Top 5 Books For Today’s College Student: Greg Thornbury
President of The King’s College in New York City and one of this year’s Acton University plenaries, Greg Thornbury, gives his top 5 book picks for today’s college students. 1. Plato’s Dialogues Plato’s dialogues are good for virtually everything that ails our society. He takes on relativism, skepticism, materialism, and incivility. Gorgias clarifies the difference between truth-seeking and posturing. 2. The Confessions of St. Augustine In Confessions, Augustine of Hippo charts his tumultuous journey to God in the ing-of-age story...
Kishore Jayabalan: Will Upcoming Encyclical ‘Squander’ Papal Authority?
In anticipation of the new papal encyclical on the environment (reportedly due out this month, and titledLaudato si’[Praised Be You]), the press is seeking a way to make sense out of information “floating around” concerning the contents of the encyclical. At this point, no one really knows what the encyclical will say, although there are educated guesses. (See Fr. Robert Sirico’s discussion on the encyclical here.) Peter Smith at the Pittsburgh Post-Gazette did a “round-up” of various Vatican watchers, officials...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved