catallaxy
A high-interaction society of collective decision making.
countable, uncountable
Catallaxy is distinguished from conventional political science by its focus on the science of complex exchanges. Whereas catallaxy views politics and the political process in terms of the voluntary exchange paradigm, the focus of political science is on the nonvoluntary relationships among individuals involving power and/or coercion.
Where it comes from
From Ancient Greek καταλλάσσω (katallássō, “to exchange”). Popularized by economist Friedrich Hayek.
Adapted from the Wiktionary entry catallaxy (CC BY-SA 4.0).