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

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Author Info
Robin Douhan ()
Gunnar Eliasson ()
Magnus Henrekson ()

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Abstract

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. Copyright Springer Science+Business Media, LLC 2007

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File URL: http://hdl.handle.net/10.1007/s11187-006-9041-y
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Publisher Info
Article provided by Springer in its journal Small Business Economics.

Volume (Year): 29 (2007)
Issue (Month): 1 (June)
Pages: 213-223
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Handle: RePEc:kap:sbusec:v:29:y:2007:i:1:p:213-223

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Web page: http://www.springerlink.com/link.asp?id=100338

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Related research
Keywords: Austrian economics economic development entrepreneurship small business economics B49 B52 B53 O31 L26

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Find related papers by JEL classification:
A - General Economics and Teaching
A - General Economics and Teaching

References listed on IDEAS
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    Other versions:
  3. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March. [Downloadable!] (restricted)
  4. Audretsch, David B. & Baumol, William J. & Burke, Andrew E., 2001. "Competition policy in dynamic markets," International Journal of Industrial Organization, Elsevier, vol. 19(5), pages 613-634, April. [Downloadable!] (restricted)
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  6. Kirzner, Israel M, 1999. " Creativity and/or Alertness: A Reconsideration of the Schumpeterian Entrepreneur," The Review of Austrian Economics, Springer, vol. 11(1-2), pages 5-17. [Downloadable!] (restricted)
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  13. David Colander, 2000. "The Death Of Neoclassical Economics," Journal of the History of Economic Thought, Taylor and Francis Journals, vol. 22(2), pages 127-143, June. [Downloadable!] (restricted)
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  14. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 893-921, October. [Downloadable!] (restricted)
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  19. Douhan, Robin & Henrekson, Magnus, 2007. "The Political Economy of Entrepreneurship: An Introduction," Working Paper Series 688, Research Institute of Industrial Economics. [Downloadable!]
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