Danubius International Conferences, 14th International Conference The Danube - Axis of European Identity
The Constitutionalisation of Economic Freedom as a Fundamental Economic Righ
Last modified: 2024-06-09
Abstract
Constitutionalisation refers to the process by which a legislative provision receives thestatus of a constitutional provision. This process derives from the principle of the supremacy ofthe Constitution, according to which the rules laid down in the Basic Law of the State havesuperior legal authority and are binding on all other legal rules, according to their hierarchy in apyramid system. Economic freedom refers to the ability of specialised entities to carry outeconomic activities in a protected environment that gives them independence in makingdecisions on the use of resources, production, trade and investment, without excessive stateintervention. This freedom is the legal basis for prosperous economic activity. Theconstitutionalisation of economic freedom implies the inclusion and explicit recognition of thisfundamental economic right in the constitutional text of a country, thus giving it a higher statusand special protection in relation to other normative acts. This means that economic freedombecomes a fundamental and essential principle of government, with an imperative and bindingcharacter for all state institutions and authorities. Hence, by constitutionalising economicfreedom, it ensures that this right is actively guaranteed and protected, strengthening the rule oflaw and promoting a society based on the principles of market economy and private initiative.