Catallactics or catallaxy is a theory of the way the free market system reaches exchange ratios and prices. It aims to analyse all actions based on monetary calculation and trace the formation of prices back to the point where agents have made choices.
Catallactics or catallaxy is a theory of the way the free market system reaches exchange ratios and prices. It aims to analyse all actions based on monetary calculation and trace the formation of prices back to the point where agents have made choices.
Source: Wikipedia "Catallactics" · CC BY-SA 4.0
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