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“[I]ndustrial mutation (…) that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one. This process of Creative Destruction is the essential fact about capitalism” (Schumpeter, 1975: 83).
 
Schumpeter
Capitalism, Socialism and Democracy
1975 , p. 83

 

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"A catallaxy is thus the special kind of spontaneous order produced by the market through people acting within the rules of the law of property, tort and contract".F. A. von Hayek, Law Legislation and Liberty (London, 1982), Vol. 2 (1976), pp. 108-109.