In the last year, one hundred years have elapsed since the establishment of the independent Czechoslovak Republic. In the first twenty years of its existence it passed through dramatic, yet basically successful economic development. In spite of the number of important economic, social and national problems it managed to occupy a significant place among economically developed states of that era. The economic reality of the Czechoslovak Republic was also created by the ideas of particular economists of this epoch.Cognition of the social and moral issues in the Czech economic thinking of the first half of the 20th century results from studying of works the prominent thinkers of that time, such as T. G. Masaryk, Karel Engliš or Josef Macek. The base to process their attitudes towards the social or moral dimension of economy is a comparison of texts and their classification into the historical-economic context.