An Austrian Take on ESG

Detalhes bibliográficos
Autor(a) principal: Schneider, Henrique
Data de Publicação: 2021
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Mises
Texto Completo: https://revistamises.org.br/misesjournal/article/view/1416
Resumo: This paper analyzes the contemporary debate about ESG – Environment, Social, Governance – using economic insights from Austrian Economics; particularly, on entrepreneurship, agency, and information asymmetry. These insights are contrasted to similar concepts in “mainstream” economics suggesting that the Austrian insight goes beyond them, first by stressing effectiveness in addition to efficiency and institutions in addition to law-likeliness. When applied to ESG, the Austrian insight portraits ESG as a special case of the socialist, or economic calculation debate causing misalignments between inter- and intrafirm goals, exacerbates agency problems and suffers from serious flaws in its conceptualization as well as methodology. Relying on entrepreneurship, however, could make ESG work. This paper, thus, applies Austrian economics to contemporary debates claiming that its insights provide a unique perspective but at the same time updating its research program.
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spelling An Austrian Take on ESGUna Perspectiva Austriaca del ESGUma perspectiva austríaca do ESGESGDebate sobre o cálculo socialistaAgênciaempreendedorismoassimetria da informaçãoESGSocialist Calculation DebateAgencyEntrepreneurshipInformation AsymmetryESGDebate sobre el cálculo económico en socialismoAgencianiciativa empresarialPlan de negocioThis paper analyzes the contemporary debate about ESG – Environment, Social, Governance – using economic insights from Austrian Economics; particularly, on entrepreneurship, agency, and information asymmetry. These insights are contrasted to similar concepts in “mainstream” economics suggesting that the Austrian insight goes beyond them, first by stressing effectiveness in addition to efficiency and institutions in addition to law-likeliness. When applied to ESG, the Austrian insight portraits ESG as a special case of the socialist, or economic calculation debate causing misalignments between inter- and intrafirm goals, exacerbates agency problems and suffers from serious flaws in its conceptualization as well as methodology. Relying on entrepreneurship, however, could make ESG work. This paper, thus, applies Austrian economics to contemporary debates claiming that its insights provide a unique perspective but at the same time updating its research program.ste artículo analiza el debate contemporáneo sobre ESG (Environment, Social, Governance) utilizando las ideas económicas de la escuela austriaca de economía; en particular, las teorías sobre el espíritu empresarial, la agencia y la asimetría de la información. Estas ideas se contrastan con conceptos similares de la economía "dominante", que sugiere que la visión austriaca va más allá, en primer lugar, al hacer hincapié en la eficacia, además de la eficiencia, y en las instituciones, además de la legalidad. Cuando se aplica al ESG, la visión austriaca retrata el ESG como un caso especial del debate socialista, o de cálculo económico. El ESG provoca desajustes entre los objetivos inter- e infraempresariales, exacerba los problemas de agencia y padece de graves defectos tanto en su conceptualización como en su metodología. Sin embargo, apoyarse en el espíritu empresarial podría hacer que la ESG funcionara. Así pues, este artículo aplica la economía austriaca a los debates contemporáneos, afirmando que sus ideas proporcionan una perspectiva única, pero al mismo tiempo actualizando su programa de investigación.Esse artigo analisa o debate contemporâneo sobre ESG (Environment, Social, Governance), utilizando as ideias econômicas da Escola Austríaca de Economia; em particular, as teorias sobre empreendedorismo, agência e assimetria de informação. Essas ideias contrastam com conceitos similares da economia “dominante”, sugerindo que a visão austríaca vai além, em primeiro lugar, do foco em eficácia, além da eficiência e nas instituições, além da legalidade. Quando aplicado ao ESG, a visão austríaca o retrata como um caso específico do debate socialista, ou do cálculo econômico. O ESG provoca desajustes entre os objetivos inter e infraempresariais, exacerba os problemas de agência e padece de graves defeitos em termos de conceitualização e metodologia. No entanto, apoiar-se no empreendedorismo poderia fazer o ESG funcionar. Assim, esse artigo aplica a economia austríaca aos debates contemporâneos, afirmando que suas ideias proporcionam uma perspectiva única e, ao mesmo tempo, atualizamos seu programa de pesquisa.Instituto Mises Brasil2021-12-20info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://revistamises.org.br/misesjournal/article/view/141610.30800/mises.2021.v9.1416MISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 9 (2021): Special IssueMISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 9 (2021): Edición temáticaMISES: Interdisciplinary Journal of Philosophy, Law and Economics; v. 9 (2021): Edição Especial2594-91872318-0811reponame:Misesinstname:Instituto Mises Brasilinstacron:IMBenghttps://revistamises.org.br/misesjournal/article/view/1416/716Copyright (c) 2021 MISES: Interdisciplinary Journal of Philosophy, Law and Economicshttp://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessSchneider, Henrique2021-12-20T11:55:50Zoai:ojs.emnuvens.com.br:article/1416Revistahttps://revistamises.org.br/misesjournalPRIhttps://revistamises.org.br/misesjournal/oairevista@mises.org.br2594-91872318-0811opendoar:2021-12-20T11:55:50Mises - Instituto Mises Brasilfalse
dc.title.none.fl_str_mv An Austrian Take on ESG
Una Perspectiva Austriaca del ESG
Uma perspectiva austríaca do ESG
title An Austrian Take on ESG
spellingShingle An Austrian Take on ESG
Schneider, Henrique
ESG
Debate sobre o cálculo socialista
Agência
empreendedorismo
assimetria da informação
ESG
Socialist Calculation Debate
Agency
Entrepreneurship
Information Asymmetry
ESG
Debate sobre el cálculo económico en socialismo
Agencia
niciativa empresarial
Plan de negocio
title_short An Austrian Take on ESG
title_full An Austrian Take on ESG
title_fullStr An Austrian Take on ESG
title_full_unstemmed An Austrian Take on ESG
title_sort An Austrian Take on ESG
author Schneider, Henrique
author_facet Schneider, Henrique
author_role author
dc.contributor.author.fl_str_mv Schneider, Henrique
dc.subject.por.fl_str_mv ESG
Debate sobre o cálculo socialista
Agência
empreendedorismo
assimetria da informação
ESG
Socialist Calculation Debate
Agency
Entrepreneurship
Information Asymmetry
ESG
Debate sobre el cálculo económico en socialismo
Agencia
niciativa empresarial
Plan de negocio
topic ESG
Debate sobre o cálculo socialista
Agência
empreendedorismo
assimetria da informação
ESG
Socialist Calculation Debate
Agency
Entrepreneurship
Information Asymmetry
ESG
Debate sobre el cálculo económico en socialismo
Agencia
niciativa empresarial
Plan de negocio
description This paper analyzes the contemporary debate about ESG – Environment, Social, Governance – using economic insights from Austrian Economics; particularly, on entrepreneurship, agency, and information asymmetry. These insights are contrasted to similar concepts in “mainstream” economics suggesting that the Austrian insight goes beyond them, first by stressing effectiveness in addition to efficiency and institutions in addition to law-likeliness. When applied to ESG, the Austrian insight portraits ESG as a special case of the socialist, or economic calculation debate causing misalignments between inter- and intrafirm goals, exacerbates agency problems and suffers from serious flaws in its conceptualization as well as methodology. Relying on entrepreneurship, however, could make ESG work. This paper, thus, applies Austrian economics to contemporary debates claiming that its insights provide a unique perspective but at the same time updating its research program.
publishDate 2021
dc.date.none.fl_str_mv 2021-12-20
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://revistamises.org.br/misesjournal/article/view/1416
10.30800/mises.2021.v9.1416
url https://revistamises.org.br/misesjournal/article/view/1416
identifier_str_mv 10.30800/mises.2021.v9.1416
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv https://revistamises.org.br/misesjournal/article/view/1416/716
dc.rights.driver.fl_str_mv Copyright (c) 2021 MISES: Interdisciplinary Journal of Philosophy, Law and Economics
http://creativecommons.org/licenses/by/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2021 MISES: Interdisciplinary Journal of Philosophy, Law and Economics
http://creativecommons.org/licenses/by/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Instituto Mises Brasil
publisher.none.fl_str_mv Instituto Mises Brasil
dc.source.none.fl_str_mv MISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 9 (2021): Special Issue
MISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 9 (2021): Edición temática
MISES: Interdisciplinary Journal of Philosophy, Law and Economics; v. 9 (2021): Edição Especial
2594-9187
2318-0811
reponame:Mises
instname:Instituto Mises Brasil
instacron:IMB
instname_str Instituto Mises Brasil
instacron_str IMB
institution IMB
reponame_str Mises
collection Mises
repository.name.fl_str_mv Mises - Instituto Mises Brasil
repository.mail.fl_str_mv revista@mises.org.br
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