Commerce rather than Economy

I prefer the term commerce over economy when referring to the function system that uses money as its symbolically generalized communication medium. Economy has too many possible meanings, such as the wealth or resources of a country or region, careful management of available resources, thrift, good husbandry, etc.

Structural Coupling of Economy and Law

If a product comes with a warranty, a legal obligation enters. The structural coupling between economy and law changes things by adding the temporal dimension, which is the duration of the warranty. Without a warranty or a return option, an economic transaction is an event with no duration. It begins and ends in the same moment. The temporal dimension doesn’t come into play. In a “pure” economic transaction, only the factual dimension comes into play–not the temporal or social dimensions. An example of pure commercial transaction would prostitution.

What is a Society, Gabriel Tarde

Economic production exacts a specialisation of aptitudes. If this specialisation were fully developed in accordance with the logically inevitable although unexpressed wish of economists, we should have as many distinct human species as there are miners, farmers, weavers, lawyers, physicians, etc. But, fortunately, the assured and undeniable preponderance of juridical relations prevents any excessive differentiation of workers. In fact, it is continually diminishing such distinctions.

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