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Catallaxy- Good for Poverty Eradication?
Catallaxy- Good for poverty eradication?

The world as it is today is experiencing a challenging economic situation which threatens to lead the global community into another massive economic crunch.

Scrutinizing changes in sales prices and the overall cost of living, not many can survive the ever escalating prices to provide for their basic needs. This has lead to many being impoverished. Poverty is a universal term which has wreaked havoc in the lives of men and women, black and white, young and old as well as male and female. This universal term can be explained as a situation where people cannot meet their material and non material needs through their own efforts.

Such a situation affects so many around the world but only a few can be supported. With scarce humanitarian aid, those that were born with the silver spoon and the privileged tend to misunderstand and conclude that poverty is a situation that can be eradicated by individuals directly affected by it.

Nonetheless, fact is, these impoverished people cannot do it on their own at times. They need aid to stand on their feet and provide for their basic needs. Friedrich Von Hayek’s game of catallaxy theory explains how poverty can be eradicated.

Catallaxy is an alternative word/expression for the term economy. Hayek defines it as “the order brought about by the mutual adjustment of many individual economies in a market.” He argues that this game is a game of skill where players within the global market are different and therefore not all can win. In the process of playing, the losing players can continue to play, take chances and eventually win.

In this game of catallaxy, not only are countries mutually adjusting their individual economies but it is also an intricate web of interrelations between economies. Therefore, we can safely say if the global economy intends to help eradicate poverty, the global community ought to be cosmopolitan, and who will be global citizens free from prejudice, national attachment etc. Such a people will have what is called a humanitarian order, of fair-mindedness, prosperity, justice, peace etc.

However we can only do that if we have what the science of human action call praxeology, which is a non-instinctive action towards attaining objectives aimed at as well the means to use in order to succeed in achieving such objectives. It is all about examining if the means available best fit to aid one to achieve the end result sought for.

Therefore we cannot rule out such an act of examining tools for attaining a set goal, from the whole equation of poverty eradication. We ought to unite as a global community with different global economies and merge together and adjust in order to attain set goals of poverty eradication with feasible means for a humanitarian cause.

Such who are poverty stricken did not choose to be in such a situation. It strikes like a sharp pin to a toe when one looks at how much people suffer while others have surplus of what they lack. Poverty cannot be completely faced out of the world, but we can use resources to reduce it to a minimal level.

Let us walk the talk and live by example that we are a caring and loving nation to those in need because poverty is often times misunderstood, “we think that poverty is only being hungry, naked and homeless. The poverty of being unwanted, unloved and uncared for is the greatest poverty,” Mother Theresa. Stand up and fight poverty, it is our duty as a human race.

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