May 5, 2015

Austrian Subjectivism and the Emergence of Entrepreneurship Theory

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Purchase from LibertyFund.org. 

This volume comprises several of Kirzner’s previously published papers on the subjects of methodological subjectivism and the history of entrepreneurship theory—topics of primary importance in Kirzner’s economic thought because one cannot fully understand entrepreneurship theory without considering subjectivism.

The volume includes Kirzner's seminal paper “Methodological Individualism, Market Equilibrium, and Market Process,” in which “Kirzner conceptualized the role of the entrepreneurial function in the market process for the first time in his work.” According to the editors, that paper “opened the door to Kirzner’s research on the market process, leading six years later to the publication of Competition and Entrepreneurship. In doing so, it paved the way to the modern Austrian theory of the market process.”