Israel M. Kirzner: An Outstanding Austrian Contributor to the Economics of Entrepreneurship

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Israel M. Kirzner is the 2006 winner of The International Award for Entrepreneurship and Small Business Research. In this essay, we present and evaluate his main contributions to the economics of entrepreneurship. The focus is on how Kirzner defines the entrepreneurial function. In order to better understand his theory, we posit Kirzner’s notion of an entrepreneur in the Austrian tradition. In so doing we emphasize that this concept opens up different perspectives as compared to the neoclassical theoretical framework. The three areas of economic policy, justice and freedom and economic growth are discussed. We also show why the Kirznerian entrepreneur makes these issues relevant. Perhaps most importantly, Kirzner has made the Austrian School intelligible for non-Austrians. By bridging the chasm between Austrian and mainstream thinking, the crucial role of entrepreneurship and the individual entrepreneur has become visible to a much broader audience.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: IFN Working Paper ; No. 678

Classification and Topics

• Classification: Wirtschaft ; Economic Methodology: Other ; Current Heterodox Approaches: Historical; Institutional; Evolutionary ; Current Heterodox Approaches: Austrian ; Innovation and Invention: Processes and Incentives
• Subject: Austrian economics ; Economic development ; Entrepreneurship ; Small business economics ; Wirtschaftstheorie ; Österreichische Schule ; Entrepreneurship-Ansatz ; Dogmengeschichte

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Douhan, Robin ; Henrekson, Magnus ; Eliasson, Gunnar
• Event: Veröffentlichung
• (who): Research Institute of Industrial Economics (IFN)
• (where): Stockholm
• (when): 2006

Further information

• Handle: http://hdl.handle.net/10419/81198
• Last update: 2025-03-10T11:45:11+0100