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> In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. - https

> In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. - https://en.m.wikipedia.org/wiki/Market_(economics) https://en.m.wikipedia.org/wiki/Market_(economics) > A market is a place where parties can gather to facilitate the exchange of goods and services. - https://www.investopedia.com/terms/m/market.asp https://www.investopedia.com/terms/m/market.asp

MichaelZuo 3y ago
These don't imply that 'parties' have to be conscious or actively making any decisions?
- burkaman 3y ago
  Yes they do. The words "engage in exchange" and "gather" are active verbs that obviously imply consciousness and consent. I'll give you another example. The definition of "purchase" is "to obtain by paying money or its equivalent". If I steal money from you while you're asleep and leave a baseball card, is it fair to say you purchased the card? Why not? The definition doesn't say anything about consciousness or decision-making. Generally dictionary definitions of human activities do not explicitly specify consciousness when it is obviously necessary.
  - MichaelZuo 3y ago
    It sounds you might have misunderstood what these terms mean. People even in a coma 'engage' in multiple activities, such as consuming oxygen, producing carbon dioxide, etc... And if they are in a hospital, they are taking up a bed and floor space that cannot be used for another patient, that needs to be actively heated/cooled/ventilated and so on. Their body would literally be engaging with the hospital HVAC systems, especially with 'smart' sensors nowadays that react to room occupants. Even in a purely financial sense, just because someone is physically incapable of opening their wallet or consenting to a transaction, doesn't mean they can't incur debts, or that other entities aren't acting on their behalf.

MichaelZuo 3y ago

These don't imply that 'parties' have to be conscious or actively making any decisions?

burkaman 3y ago
Yes they do. The words "engage in exchange" and "gather" are active verbs that obviously imply consciousness and consent. I'll give you another example. The definition of "purchase" is "to obtain by paying money or its equivalent". If I steal money from you while you're asleep and leave a baseball card, is it fair to say you purchased the card? Why not? The definition doesn't say anything about consciousness or decision-making. Generally dictionary definitions of human activities do not explicitly specify consciousness when it is obviously necessary.
- MichaelZuo 3y ago
  It sounds you might have misunderstood what these terms mean. People even in a coma 'engage' in multiple activities, such as consuming oxygen, producing carbon dioxide, etc... And if they are in a hospital, they are taking up a bed and floor space that cannot be used for another patient, that needs to be actively heated/cooled/ventilated and so on. Their body would literally be engaging with the hospital HVAC systems, especially with 'smart' sensors nowadays that react to room occupants. Even in a purely financial sense, just because someone is physically incapable of opening their wallet or consenting to a transaction, doesn't mean they can't incur debts, or that other entities aren't acting on their behalf.