The public sector is essential for the functioning of a market economy. The free initiative to produce and consume requires, at a minimum, the guarantee of private property and the respect of contracts freely agreed between the parties.

Without some legal framework, economic transactions would be extremely difficult, expensive and rare. It is the existence of laws that discipline economic transactions and make them secure, which allows them to take place as often as required in modern societies.

It is up to the public sector to draft laws that regulate social life in general and economic life in particular. And not only the elaboration, but also its fulfillment and the resolution of inevitable conflicts of interest. These are the primary functions of the public sector. The better these functions are performed, the better the human coexistence and the better the economic environment. And it is a good economic environment that allows for healthy and sustained growth.

In particular, investments are very sensitive to the economic environment. Investing means betting on the future. You pay today to receive tomorrow. The guarantee that the rules that justify the investment today are maintained in the future is a decisive factor when investing. If there are doubts about these guarantees, the natural defense of investors will be to require high returns and short terms, making long-term investments essential to development difficult.

Not only investments, but, with equal or greater strength, inventions and innovations, to be stimulated, need guarantees that future rights will be respected.

Only the government, with its police power, can provide this service. But society can collaborate, and a lot, in this task. The more spontaneously economic agents comply with laws, the easier the work of the public sector will be and the less repressive and punitive actions will be necessary.

On the other hand, the more rational, simpler and less bureaucratic, easy to understand and apply the rules established by the government, the more spontaneously they will be obeyed and the better the business environment and the greater the economic growth.

ETCO fights on these two fronts. Create a social environment conducive to compliance with established rules and help in the development of fair and easy to apply rules.