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Mises, Hayek and Corruption

2013; Springer Science+Business Media; Volume: 119; Issue: 3 Linguagem: Inglês

10.1007/s10551-013-1646-x

1573-0697

Tomáš Otáhal,

Law, Economics, and Judicial Systems

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.