In our day, the stock market has become a data processing center. Pressures caused by the demand for optimal market efficiency were behind this transformation. Nevertheless, the time involved in the new market semiosis is as real and necessary as the time of transactions in the market based on barter or on direct negotiations; that is, only the amount of time needed to ensure the cooperation of the three elements mentioned above, as human beings constitute themselves in the pragmatic context of the market. The pragmatic context affects market cycles and the speed at which market transactions take place. This is why a deal in a bazaar takes quite a bit of time, and digital transactions triggered by programmed trading are complete before anyone realizes their consequences. Market regulations always affect the dynamics of mediations.
The language of the market
Language signs and other signs are mediating devices between the object represented in the market and the interpretant-the human beings constituting themselves in the process of interpretation, including satisfaction of their needs and desires. No matter what type of market we refer to, it is a place and time of mediations. What defines each of the known markets (barter, farmers' markets and fairs, highly regulated markets, so-called free markets, underground markets) is the type of mediation more than the merchandise or the production process. Of significance is the dynamic structure involved. It is obvious that if anything anticipated our current experience of the market, it was the ritual.
Objects (things, money, ideas, process), the language used to express the object, and the interpretation, leading or not to a transaction, constitute the structural invariable in every type of socio-economic environment. In the so-called free market (more an abstraction than a reality) and in rigidly planned economies, the relation among the three elements is the variable, not the elements themselves. Interpretation in a given context can be influenced in the way associations are made between the merchandise and its representations.
The history of language is rich in testimony to commerce, from the very simple to the very complex forms of the latter. Language captures ownership characteristics, variations in exchange rates, the ever-expanding horizon of life facilitated through market transactions. It is within this framework that written records appear, thus justifying the idea that, together with practical experiences of human self-constitution, market processes characteristic of a limited scale of exchange of values are parents to notation, to writing and to literacy.
Expectations of efficiency are instantiated, within a given scale of human activity, in market quantities and qualities. Nobody really calculates whether rice production covers the needs of humankind at any given instance, or if enough entertainment is produced for the billions living on Earth today. The immense complexity of the market machine is reflected in its dynamics, which at a certain level of its evolution could no longer be handled by, or made subject to the rules and expectations of literacy. Market processes follow a pattern of self-organization under the guise of many parameters, some of which we can control, others that escape our direct influence upon them. Languages of extreme specialization are part of market dynamics in the sense that they offer practical contexts for new types of transactions. Netconomy started as a buzzword, joining net, network, and economy. In less than one year, the term was used to describe a distributed commercial environment where extremely efficient transactions make up an increasing part of the global economy. But the consequences of the Netconomy are also local: distribution channels can be eliminated, with the effect of accelerating commercial cycles and lowering prices. Computers, cars, software, and legal services are more frequently acquired through the virtual shops of the Netconomy.
To see how the practical experience of the market freed itself from language and literacy, let us now examine the market process as semiosis in its various aspects. As already stated, in trading products, people trade themselves. Various qualities of the product (color, smell, texture, style, design, etc.), as well as qualities of its presentation (advertising, packaging, vicinity to other products, etc.), and associated characteristics (prestige, ideology) are among the implicit components of this trade. Sometimes the object per se-a new dress, a tool, wine, a home-is less important than the image it projects. Secondary functions, such as aesthetics, pleasure, conformity, override the function of fulfilling needs. In market semiosis, desire proves to be just as important, if not more so, than need. In a large part of the world, self-constitution is no longer just a question of survival, but also one of pleasure. The higher the semiotic level of the market in a context of decadent plenty-the number of sign systems involved, their extent and variety-the more obvious the deviations from the rule of merely satisfying needs.
Human activity that aims at maintaining life is very different from the human activity that results in surplus and availability for market transaction. In the first case, a subsistence level is preserved; in the second, new levels of self-constitution are made possible. Surplus and exchange, initially made possible through the practical experience of agriculture, constituted a scale of human activity that required human constitution in signs, sign systems, and finally language. Surplus can be used in many ways, for which sign and later language differentiation became progressively necessary. Rituals, adornment, war, religion, means of accumulation, and means of persuasion are examples of differentiations. All these uses pertained to settled patterns of human interaction and led to products that were more than mere physical entities to be consumed. To repeat, they were projections of individual self-constitution.
Behind each product is a cycle of conception, manufacture, and trade, and an attached understanding of utility and permanence. With the advent of writing and reading, from its rudimentary forms to the forms celebrated in literacy, and its participation in the constitution of the market, the avenue was opened towards using what was produced in surplus to cover the need to maintain life, so that more surplus could be generated. The market of merchandise, services, slaves, and ideas was completed by the market of salaried workers, earning money for their life's salt, as Roman soldiers did. These belong to the category of human beings constituting themselves in the pragmatic framework of an activity in which production (work) and the means of production separated. The language through which workers constituted themselves underwent a similar differentiation. As work became more alienated from the product, a language of the product also came into being.
The language of products