Economic-Societal Order and Business Order: Efficient Configuration of the Business “Environment”

Santiago García Echevarría ()
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Santiago García Echevarría: Universidad de Alcalá

A chapter in The Emergence of a Tradition: Essays in Honor of Jesús Huerta de Soto, Volume I, 2023, pp 147-158 from Springer

Abstract: Abstract A society’s development is determined by its socio-economic order; the development of individuals and the configuration of their institutions are, therefore, also the result of this socio-economic order. Not only businesses, but also the action of the domestic economy is thus characterized by the type of socio-economic order in a given society. As a result, the ways in which socio-economic processes are conceived and driven also depend on said order. The Freiburg School’s contribution is great in terms of how to provide society with a basis for the development of the individual in freedom and the efficient configuration of the diverse institutions that together define all coordination processes of business and domestic economies. In the socio-economic order, consolidation of the freedom that configures socio-economic processes in the long term, together with the acceptance of diversity within the socio-economic reality has the means to drive both the development of the individual as well as his efficiency in the functioning of the market economy. Together with ethical principles, competition is the key to this socio-economic order. Such an order can be the motor that drives long-term business activity, thus achieving freedom of personal action when designing and executing socio-economic processes. Economic and societal efficiency are the keystone to the socio-economic order’s contribution.

Keywords: Economic order; Competition; Ethical principles; Efficient markets; Constituent principles; Business order (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-3-031-17414-8_14

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