The City of Kokkola and the registered relief association for the Chydenius Institute established the Foundation in 2001 and its domicile is Kokkola, Finland.

The purpose of the Foundation is to promote discussion on the liberalization of the economy and its consequences in the light of the ideas and tradition of Anders Chydenius (1729-1803), to support academic research into this topic and to influence decisions in this field by laying emphasis on ethical values.

Although Anders Chydenius spoke of liberalization of the economy and the elimination of privileges, he was firmly of the opinion that the economy existed for the good of the people and not the people for the good of the economy. His political platform was based on democracy, equality and respect for human rights. The need for ethical discussions in society on the basis of these values does not seem to have diminished in the least.

The Foundation sees its role as one of stimulating discussion and exercising influence in practical matters. It is capable of gathering together researchers, thinkers, decision-makers and other influential persons to deliberate over aspects of the globalizing economy or the development of an information society, for instance. Chydenius himself demonstrated that international discussions can be responsive to initiatives from outside the major centres of activity.