ABSTRACT

The lacking firm and enforceable “rules of the game” in a hurry of the speedy social transformation is the consequence of misunderstood liberalism. So, the evolution of private ownership under the characterized strategy of radical liberalism acquires certain specific ethical and cultural features that endanger the emerging order and the stability of society. The transformation of a socialist economy and society is a problem with several dimensions. Society must be a modernized and restructured society and the rule of law must be cultivated. The author presents ideas about the close connection between the chosen strategy of privatization in the Czech Republic and the general “social ecology” for ethical business behavior several times. So called “theory of the transient period” in the Marxist political economy of socialism has been the true “shock therapy” and it meant the forced change of the whole institutional framework of economy during a relatively short historical period.