L'ordre de marché comme croyance

François Facchini

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: This article proposes a radically subjective theory of market order. It argues that we should reject the theories that construct a rigid notion of order around a pre-existing model (equilibrium theory and theory of self-organising orders) (2) in favour of a conception of order from the point of view of agents (3). In this context, order is non longer defined in terms of criteria imposed ex ante by the observer, but in terms of the rules of which it is constituted. Market order is then approached as a sui generic order which is by nature invisible, because it is mental. The market is an order because agents possess the motivation and desire to believe that it is. Under these conditions, the market order can only survive as long as it is perceived as such by individuals seeking to carry out projects of production and consumption through exchange.

Keywords: spontaneous order; equilibrium; subjectivism; subjectivisme; équilibre; ordre (search for similar items in EconPapers)
Date: 2005
Note: View the original document on HAL open archive server: https://hal.science/hal-00433088
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Published in Procesos de Mercado, Revista Europea de Economia Politica, 2005, 2 (2), pp. 11-39. ⟨10.52195/pm.v2i2.352⟩

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Working Paper: L'ordre de marché comme croyance (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:hal-00433088

DOI: 10.52195/pm.v2i2.352

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