concept of "real market" is different from the "real market" proposed by Coase. The "real market" refers to a world where there are transaction costs, which corresponds to a "virtual market", that is, a world without transaction costs. The "real market" discusses the relationship between human actions and general rules, and corresponds to the "false market", that is, individual actions deviate from general rules. The New Institutional Economics School represented by Coase is based on the assumption of rational man, and the discussion about the "real market" is based on the entrepreneurial theory of the Austrian School. The "real market" reminds people to pay attention to the world with transaction costs, which is more of an empirical level; while the "real market" reminds people to pay attention to actions and rules, which is more of an epistemological level.
Traditionally, the market is a transaction concept, or understood as a resource allocation mechanism, but the author of this book connects the market with actions and general rules, indicating that the meaning of the market is that individual actions follow the general rules revealed by economics , This is a more general market view.
The general rules here refer to the general logic of human action and the rules that conform to it. The general logic of human action is a general theory about division of labor and cooperation, and a theory about how human society is possible. This kind of law is a priori, does not depend on human will, but is also universally applicable, and constitutes the underlying logic of human society.
Regarding the general rule, an example can be given. We know that value is subjective and cannot be measured objectively. If individuals cannot make their own value judgments in a certain field, but must obey certain objective indicators, then in this field, the individual's actions will inevitably be distorted, thus harming the interests of related individuals. Subjective value also means that prosperity and justice are only possible when each individual is allowed to discover value, that is, when the entrepreneurial talent is used. Following the general rules produces a cooperative order, at which time the interests of individuals are enhanced.
When an individual connects his actions with his knowledge of general rules, his actions contribute to the emergence of a real market. On the contrary, empirical or historicist methods, or the use of some holistic concepts without a logical basis, are not valid. Such methods will hinder the emergence of "real markets".
With the help of "actions and rules", the concept of property rights can be re-understood. When "property rights" is regarded as an action-related concept, many fallacies made by mainstream economists will be clarified. Many economists are caught in self-contradictions. They do not oppose Smith’s classical liberalism, that the government plays the night watchman, but they also emphasized "market failure" and proposed "effective market + promising government" and so on. the opinion of. Their mistakes and confusion stem from the methods of mainstream economics.
Based on the "actions and rules" approach, Rothbard's thoughts of anarchic capitalism can be revised and deepened. Innovatively put forward the concept of "political capital from a coordinated perspective", which is a conception of the future society, or, in other words, the "real market" that belongs to the future. Under this concept, the government is no longer a monopolistic organization, but only exists as a "function."
As a method of understanding the world, "actions and rules" have a wide range of applications, such as in the field of "digital economy". Digitization is actually a "back-end" action. The front-end action is a decision in the mind. The decision-making process is often unique and cannot be copied or imitated. It is also a source of creativity. In this way, we will realize that it is meaningless to digitize a production process that does not create value by itself.
What is important is "value", not "digitalization", that is, the discovery and creation of "value" is first, and then "digitization" can be said. The discovery and creation of "value" is an individual in a good institutional environment. The result of using one's own entrepreneurial talents. Many people mistakenly believe that digitalization itself creates value, which is an important prerequisite for failing to see entrepreneurs' decisions. Therefore, the problem of marketization precedes the problem of the digital economy. But in reality, this premise does not always exist. For example, if digitalization is used as a means to strengthen intervention, or to obtain subsidies in the name of the digital economy, such a digital economy is justified.
The enlightenment of "actions and rules" is that market economy cannot be simply understood as an "economic system", but should be regarded as a way of "action". If a person recognizes that the general rules are his interests and acts in accordance with the requirements of the general rules, then his actions are "market economy".
The call for a "real market" is also a call for civilization.
