Competition and Entrepreneurship
By (author) Israel M. Kirzner
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Competition and Entrepreneurship by Israel M. Kirzner
Book DescriptionStressing 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 that satisfied the conditions for equilibrium. Mr. Kirzner argues that "it is more useful to look to price theory to help understand how the decisions of individual participants in the market interact to generate the market forces which compel changes in prices, outputs, and methods of production and in the allocation of resources." Although Competition and Entrepreneurship is primarily concerned with the operation of the market economy, Kirzner's insights can be applied to crucial aspects of centrally planned economic systems as well. In the analysis of these processes, Kirzner clearly shows that the rediscovery of the entrepreneur must emerge as a step of major importance.
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Book DetailsISBN: 9780226437767
(202mm x 133mm x 14mm)
Imprint: University of Chicago Press
Publisher: The University of Chicago Press
Publish Date: 1-Sep-1978
Country of Publication: United States
Books By Author Israel M. Kirzner
Economic Point of View, Paperback (December 2009)
Part of the "Collected Works of Israel M Kirzner" series, this book contains Kirzner's 1960 doctoral dissertation under Ludwig von Mises, a work that established Kirzner as a careful and meticulous scholar of economics.
Driving Force of the Market, Paperback (April 2006)View all books by Israel M. Kirzner
Offers an insight into the character of Austrian economics. This work examines: the market economy; theories of Competition and Entrepreneurship; and the Mises-Hayek legacy. It also collects the work of the leading authorities in this area, and is intended for those interested in the implications of Austrian approach on economics.
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