Katalatto is the Ancient Greek term for “to exchange”. It also means “to make foes to friends”.
Catallactics is a praxeological theory, the term catallaxy being used by Friedrich Hayek to describe “the order brought about by the mutual adjustment of many individual economies in a market. Friedrich Hayek derived from it his term “cattalactics” to describe the economic order of a free market.
Hayek was dissatisfied with the usage of the word “economy” because of its Greek root, which translates as “household management”, implies that economic agents in a market economy possess shared goals. He derived the word “Catallaxy” (Hayek’s suggested Greek construction would be rendered καταλλαξία) from the Greek verb katallasso (καταλλάσσω) which meant not only “to exchange” but also “to admit in the community” and “to change from enemy into a friend.