Journal of Business Ethics

, Volume 119, Issue 3, pp 399–404 | Cite as

Mises, Hayek and Corruption



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.


Austrian school Corruption Economic calculation Rent-seeking 



This article is the result of research project supported by the Ministry of Education, Youth and Sports of the Czech Republic No. VZ 6214648904 “The Czech Economy in the Process of Integration and Globalization, and the Development of Agricultural Sector and the Sector of Services under the New Conditions of the Integrated European Market,” thematic area 01 “Macroeconomic and microeconomic performance of the Czech economy, and the Czech government’s econo-political measures in the context of the integrated European market.” The submission was highly inspired by Dr. Libor Dušek from CERGE-EI. I would like to thank the anonymous referees for their comments that help improve the manuscript, and also Katarína Lexová from NEWTON College for editing.


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Copyright information

© Springer Science+Business Media Dordrecht 2013

Authors and Affiliations

  1. 1.Department of EconomicsFBE MENDELU in BrnoBrnoThe Czech Republic

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