Ethics and Dynamic Efficiency: A Thomistic Approach

David Sanz-Bas ()
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David Sanz-Bas: Catholic University of Avila

A chapter in The Emergence of a Tradition: Essays in Honor of Jesús Huerta de Soto, Volume II, 2023, pp 289-302 from Springer

Abstract: Abstract This chapter aims to explore the connections between the cardinal virtues (prudence, justice, fortitude and temperance) as conceived in Thomistic ethics and the concept of dynamic efficiency. It will be argued that ethical action is not at odds with efficient action in the marketplace. The unconditional adherence to Good, Justice and Truth in business and organizational challenges, that every entrepreneur has to deal with on a daily basis, will result in the cultivation and flourishing of the cardinal virtues (prudence, justice, fortitude and temperance). The development of these virtuous habits will unintentionally lead to greater dynamic efficiency, that is, a greater ability to boost creativity and coordination within the marketplace. This will manifest itself in many ways: better leadership capacity within the company, greater sobriety and judgment in decision making, generation of a good reputation in the market, minimization of legal disputes, greater resilience in the face of inevitable market setbacks, greater self-control of the body that will free the entrepreneur from distracting his energies in undesirable tasks, etc.

Keywords: Dynamic efficiency; Thomistic ethics; Prudence; Justice; Fortitude; Temperance (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-17418-6_24

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DOI: 10.1007/978-3-031-17418-6_24

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