Home
/
RELIGION & LIBERTY ONLINE
/
Finding our economic voice: How markets are like language
Finding our economic voice: How markets are like language
Jan 26, 2026 9:08 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
‘A Threat to Tyranny Everywhere’
Arnold Kling had the opportunity to screen The Call of the Entrepreneur and published his reactions to it on Tech Central Station. In this rave review Mr. Kling, in the first paragraph, calls The Call both the “most subversive film” he has ever seen, and “a threat to tyranny everywhere.” He points out that while the film uses the so-called “G-word,” it avoids the scare-tactics that “An Inconvenient Truth,” also a religious film in his view, makes use of and...
Display the “Hot Ghetto Mess” For The World To See
I will make no friends with this post but some parts of black America are trapped in a moral crisis. The crisis will be on display this Wednesday when B.E.T. (Black Entertainment Television) debuts a new show called “We Got To Do Better” which is based off of a website called “Hot Ghetto Mess.” It’s time to stop playing words games and be honest: blacks (and others) who embrace a “ghetto” mentality are in deep trouble and, by extension, so...
New books update
Bringing to your attention two recent publications by Journal of Markets & Morality contributors: The first is Less Than Two Dollars a Day: A Christian View of World Poverty aand the Free Market, by Kent Van Til, published by Eerdmans. The second is Economics in Christian Perspective: Theory, Policy, and Life Choices, by Victor Claar and Robin Klay, published by InterVarsity. Based on a quick perusal, I guess that the latter entry is a little more sanguine about the achievements...
Starting Young
Acton continues its award winning ad campaign by looking at how the entrepreneurial calling begins at an early age. A child who sets up a lemonade stand outside of his house is an entrepreneur, assuming a certain amount of risk and responsibility and providing a product that will increase the happiness of passers by. Adults often praise the hard work of children, especially children who find ways to earn something through their hard work, but often this attitude changes as...
John Chrysostom, On Wealth and Poverty, Part 3
Readings in Social Ethics: John Chrysostom, On Wealth and Poverty, part 3 of 3. There are six sermons in this text, based on the parable of the Rich Man and Lazarus. This post deals with the third and final pair. The first four sermons dealt directly with Chrysostom’s exegesis of the parable of Lazarus and the rich man. These latter two sermons were given on different occasions. References are to page numbers. Sermon 6: The es after an earthquake has...
PowerBlog Cracks EO’s Top 10
A big tip o’ the hat to Joe Carter over at evangelical outpost for including the Acton PowerBlog in The EO 100, which he describes as “the top 100 blogs that I have found to be the most convicting, enlightening, frustrating, illuminating, maddening, stimulating, right-on and/or wrongheaded by Christians expressing a Christian worldview.” Also check out the 30 Most Influential Religion Blogs at Faith Central by Times (UK) reporter Joanna Sugden. Alas, the PowerBlog did not make the cut for...
Everything Old is New Again
Here’s an interesting report from the Media Research Center’s Business & Media Institute on the cyclical nature of media coverage on the issue of climate change. We all know about the global cooling craze of the 1970’s, but who knew that the issue goes back more than a century? It was five years before the turn of the century and major media were warning of disastrous climate change. Page six of The New York Times was headlined with the serious...
A Weekend Emergent Village Experience
This weekend’s Midwest Emergent Gathering, held July 20-21 in Rolling Meadows, Illinois, was an event that I enjoyed participating in immensely. I was invited, by my friend Mike Clawson of up/rooted (Chicago), to answer several questions in a plenary session. I was billed as a friendly “outsider.” We laughed about this designation since many of my critics now assume that I am a “heretical insider” to Emergent. The truth is that neither is totally true. I am not so much...
National Security and Energy Policy
Over at the Becker-Posner blog, the gentlemen consider the question, “Do National Security and Environmental Energy Policies Conflict?” (a topic also discussed here.) Becker predicts, “Driven by environmental and security concerns, more extensive government intervention in the supply and demand for energy are to be expected during the next few years in all economically important countries. Policies that meet both these concerns are feasible, and clearly would have greater political support than the many approaches that advance one of these...
‘Age Appropriate’ Sex Education
Senator and Presidential candidate Barack Obama has gained support from some Evangelical Christians. I recall some students and faculty at the Wesleyan Evangelical seminary that I attended supported Obama. Jim Wallis of Sojourners, when on the lecture circuit, pares Obama with famed British Parliamentarian William Wilberforce. This week, Obama spoke to a Planned Parenthood gathering where he reinforced his support for sexual education for kindergarteners. To be fair, Obama said the education should be age appropriate and that he “does...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved