Written the year of Mises’s death, this is the book that brought new prominence to the Austrian theory of the entrepreneur. Kirzner views him as the discoverer of opportunities in the competitive process, and contrasts this view with the general equilibrium view-which defines away the entrepreneur-and the Schumpeterian view that discovery is always disequilibrating. For its lucidity and focus, this remains an Austrian classic.
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Kirzner is among the foremost scholars in the continuing development of the Austrian School of economic theory. He taught for many years at New York University.
Presented at Hillsdale "College's Conference Commemorating the Centenary of the Birth of Ludwig von Mises" on September 10, 1981.