Competition and Entrepreneurship

Israel Kirzner's "Competition and Entrepreneurship" is a seminal work in Austrian economics, focusing on the role of entrepreneurship in market processes.

Kirzner challenges the neoclassical view of perfect competition, arguing that markets are dynamic and constantly evolving due to entrepreneurial alertness and discovery.

He emphasizes the importance of uncertainty and the role of entrepreneurs in identifying and exploiting profit opportunities.

The book's insights into the dynamic nature of competition and the role of entrepreneurship have had a lasting impact on economic theory and policy.

It remains a key text for understanding the Austrian perspective on market processes.