The Collected Works of Israel M. Kirzner

  • Austrian Subjectivism and the Emergence of Entrepreneurship Theory

    by Israel Kirzner

    Austrian Subjectivism and the Emergence of Entrepreneurship Theory comprises several of Kirzner’s previously published papers on the subjects of methodological subjectivism and the history of entrepreneurship theory—topics of primary importance in Kirzner’s economic thought because one cannot fully understand entrepreneurship theory without considering subjectivism. The volume includes Kirzner’s seminal paper “Methodological Individualism, Market Equilibrium, and Market Process,” in which “Kirzner…

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  • Competition and Entrepreneurship

    by Israel M. Kirzner

    Competition and Entrepreneurship defines Israel M. Kirzner’s unique contribution to the economics profession. Pointing out the shortcomings of the traditional microeconomic model, Kirzner offers an alternative and complementary view, which illuminates and enriches the way economists think of the market process. Kirzner develops a theory of the market process that focuses on the role of the pure entrepreneurial element in…

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  • Competition, Economic Planning, and the Knowledge Problem

    by Israel M. Kirzner

    No other economist in recent times has been so closely identified with the Austrian School of economics as Israel M. Kirzner, professor emeritus of economics at New York University. A leader of the generation of Austrian economists after Ludwig von Mises and F. A. Hayek, Kirzner has been recognized as one of the minds behind the revival of entrepreneurship and…

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  • Discovery, Capitalism, and Distributive Justice

    by Israel M. Kirzner

    Discovery, Capitalism, and Distributive Justice makes Kirzner’s case for the idea that entrepreneurial profit is both essential for an economy and profoundly just. Asserting that the problem with standard criticism of capitalist income distribution is a failure to see capitalism as a “discovery procedure,” Kirzner argues that production and subsequent profit are neither automatic nor guaranteed. This important contribution to…

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  • The Economic Point of View

    by Israel M. Kirzner

    The inaugural volume in Liberty Fund’s new Collected Works of Israel M. Kirzner series established Kirzner as a careful and meticulous scholar of economics. No other living economist is so closely associated with the Austrian School of economics as Israel M. Kirzner, Professor Emeritus of Economics at New York University. He has been a leader of the generation of Austrian…

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  • Essays on Capital and Interest

    by Israel M. Kirzner

    Essays on Capital and Interest presents a collection of writings on capital theory that serve both as a discourse in the history of economic thought and as conceptual clarification in one of the most complex subjects in economics. Israel M. Kirzner is a leading economist in the Austrian School and Professor Emeritus of Economics at New York University. Peter J.

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  • The Essence of Entrepreneurship and the Nature and Significance of Market Process

    by Israel M. Kirzner

    The Essence of Entrepreneurship and the Nature and Significance of Market Process is a continuation of the discourse started in Kirzner’s earlier work, Competition and Entrepreneurship, expanding upon his ideas about entrepreneurship and entrepreneurial alertness. Essence presents most of the detailed research Kirzner has done on the nature of entrepreneurship and the entrepreneurial process in the decades following the publication…

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  • Ludwig von Mises: The Man and His Economics

    by Israel M. Kirzner

    Ludwig von Mises: The Man and His Economics is a collection of Israel M. Kirzner’s work regarding his mentor, including a monograph on Mises and his work as well as several articles detailing how he impacted the world of economics. Kirzner showcases Mises not only as a man with a “sparkling, fresh, fundamentally new interpretation” of the tenets espoused by…

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  • Market Theory and the Price System

    by Israel M. Kirzner

    The second volume in Liberty Fund’s Collected Works of Israel M. Kirzner series, Market Theory and the Price System was published in 1963 as Kirzner’s first (and only) textbook. This volume presents an integrated view of Austrian price theory. The basic aim of Market Theory is to utilize the tools of economic reasoning to explain the market process. The unique…

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  • Reflections on Ethics, Freedom, Welfare Economics, Policy, and the Legacy of Austrian Economics

    by Israel M. Kirzner

    Reflections on Ethics, Freedom, Welfare Economics, Policy, and the Legacy of Austrian Economics comprises a variety of Kirzner’s essays on social thought. Kirzner’s intellectual interest and theories go beyond market process and entrepreneurship: they encompass several important topics that are vital to the existence of human societies. Kirzner’s work, at heart, is not prescriptive but analytical. His work is not…

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