Stressing verbal logic rather than mathematics, Israel M. Kirzner provides at once a thorough critique of contemporary price theory, an essay on the theory of entrepreneurship, and an essay on the theory of competition. Competition and Entrepreneurship offers a new appraisal of quality competition, of selling effort, and of the fundamental weaknesses of contemporary welfare economics.
Kirzner's book establishes a theory of the market and the price system which differs from orthodox price theory. He sees orthodox price theory as explaining the configuration of prices and quantities...

Israel Kirzner is the foremost proponent of the modern Austrian theory of the market process. This theory, while concurring with many of the major policy implications of neo-classical economics, sharply dissents from much of the substance and methodology of neo-classicism. Emphasizing the crucial role of ignorance, uncertainty, and the passage of time, Austrian economists criticize the tight equilibrium' approach of the mainstream. Yet the Austrians refuse to conclude that the major conclusions of economics are to be rejected. By introducing the role of the entrepreneur and of entrepreneurial...

For 20 years, Israel Kirzner has been one of the foremost proponents of the modern Austrian economics in the United States. In his latest book he extends his analysis of the implications of the Austrian approach while comparing it to both neo-classical and radical subjectivist approaches. This theory, while concurring with many of the major policy implications of neo-classical economics, sharply dissents from much of the substance and methodology of neo-classicism. Emphasizing the crucial role of ignorance, uncertainty, and the passage of time, Austrian economists criticize the tight...

Collects together the recent work of the Austrian economist, Israel M. Kirzne. This volume extends his analysis of the implications of the Austrian approach while comparing it to both neoclassical and radical subjectivist approaches in economics. Themes covered include: the character of Austrian economics; normative perspectives on the market economy; the Mises-Hayek legacy; theories of competition and entrepreneurship. It should be of interest to those interested in the legacy of Austrian economics.

This book offers a unique insight into the character of Austrian economics. This work also collects the recent work of the leading authorities in this area, and will be an indispensible tool for all those interested in the implications of Austrian approach on economics. The author also examines
*the market economy
*theories of Competition and Entrepreneurship
*the Mises-Hayek legacy.

This third volume in the series is divided into four parts. The first presents a symposium on models of socialism, the second present current research, the third, review essays, and the fourth, book reviews.