catallaxy

Definitions

A high-interaction society of collective decision making.

countable, uncountable

Examples

“Catallaxy is distinguished from conventional political science by its focus⟳ on the science of complex exchanges. Whereas catallaxy views politics and the political process⟳ in terms of the voluntary exchange⟳ paradigm, the focus⟳ of political science is on the nonvoluntary relationships among individuals involving power and/or coercion.”

“It would be possible to depict the catallaxy as seen from the perspective of any particular entrepreneur or enterprise. This depiction would show⟳ the main features of that enterprise's operation within the catallaxy. But that enterprise is embedded with a catallaxy of myriad other enterprises, each of which operates with a map of its relevant catallaxy that is simpler by far than the entire catallaxy.”

CEFR level