chrematistic

chrematistic

(ˌkriːməˈtɪstɪk)
adj
(Economics) of, denoting, or relating to money-making
[C18: from Greek, from khrēmatizein to make money, from khrēma money]
ˌchremaˈtistics n
References in periodicals archive ?
The first scenario examples could be taken from real estate bubbles which are formed when the demand is created artificially (speculative, Atistotel's chrematistic, aims).
If it would returned to Aristotle's organization and understanding of the domestic activity there would be noticed that each market's participant has chrematistic aims which is enriching his own property.
Capital is able to engage in its chrematistic operation of producing value and reaping surplus value or profit only if it meets the test of material economic reproducibility of any human society which requires that social demand for basic goods be met in a way that does not chronically misallocate resources and ensures that the direct producers receive, at minimum, the product of their necessary labour.
What dialectical economic theory incisively demonstrates is precisely the way in which in the tending of the capitalist market toward equilibrium through market competition and the changing opportunities for profit-making, the heterogeneity of labour processes among production sectors and product groups, the effectuation of prosperity and crisis across business cycles, the law of value mediates the chrematistic modus operandi of capitalist value augmentation while simultaneously guaranteeing the reproducibility of capitalism as an historical society.
Both, the aforementioned ability of capitalism to achieve an equilibrium allocation of resources, guaranteeing its fundamental reproducibility as an historical society, and the satisfaction of its chrematistic of value augmentation through exploitation of workers where the performance of surplus labour is reaped by capital as surplus value, are dependent upon this.
The chrematistic paradigm involves the pursuit of money with the object of acquiring physical goods for the purpose of reselling them at a profit and thereby increasing one's stock of money.
But one also needs to recall the first volume of Capital where Marx drew on Aristotle's distinction between oeconomic, as the art of gaining a livelihood, and chrematistic, or the skill of trafficking goods and money.
However, Aristotle also considered (and discredited) what he called chrematistic, the art of gaining and making profit, which seemed an inevitable offspring of the overall economy of circulation.
8-9; chrematistic is a perversion of nature for it does not satisfy natural needs).
19) Thus, for Aristotle, coordination means that, through chrematistic and economic activity, everybody succeeds in possessing what he or she needs to achieve the good life.
According to him, chrematistics is a technique subordinated to economics dealing with the acquisition of things used by oikonomike.