This paper develops a structural interpretation of the Market as a natural institution emerging from the interaction of differentiated individuals. It identifies competition, trade, and money as its core components, and introduces the concept of record systems as a central mechanism for validation and coordination. The analysis examines how intervention—particularly through money and record—generates structural distortions without eliminating the Market. The framework extends to the geopolitical dimension and the evolving role of financial technologies, offering a unified perspective on economic organization beyond equilibrium-based models.
Rodolfo Lovo (Thu,) studied this question.