Mises, Hayek and Corruption

7 Pages Posted: 30 Jan 2013 Last revised: 19 Apr 2014

See all articles by Tomáš Otáhal

Tomáš Otáhal

Mendel University - Faculty of Economics and Business Administration

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Date Written: January 29, 2013

Abstract

Using the arguments of Ludwig von Mises and Friedrich August von Hayek, I argue that private ownership solves the economic problem of corruption. Since private ownership discourages entrepreneurs from rent-seeking, and privately owned media provide objective and unbiased information to citizens, any legal reform establishing and enforcement of private ownership also solves the corruption problem.

Keywords: Austrian school, corruption, economic calculation, rent-seeking

JEL Classification: B25, D73, D83, K43, P16

Suggested Citation

Otáhal, Tomáš, Mises, Hayek and Corruption (January 29, 2013). Journal of Business Ethics, Vol. 119, No. 3, pp. 399-404, 2014, Available at SSRN: https://ssrn.com/abstract=2208358

Tomáš Otáhal (Contact Author)

Mendel University - Faculty of Economics and Business Administration ( email )

Staňkova 578/16b
Brno, 602 00
Czech Republic

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