Mises, Hayek and Corruption
11 Pages Posted: 31 Oct 2010 Last revised: 2 May 2011
Date Written: August 4, 2009
Using the arguments of Ludwig von Mises and Friedrich August von Hayek, I argue that private ownership solves the problem of corruption. Because private ownership discourages entrepreneurs from rent-seeking and because privately owned media provide quality information to citizens, the legal reform that would be established and enforced private ownership solve the corruption problem.
Keywords: Austrian school, corruption, economic calculation, rent-seeking
JEL Classification: B25, D73, D83, K43, P16
Suggested Citation: Suggested Citation