Market Theory and the Price System

by Israel Kirzner

Hardcover, 2011


Liberty Fund Inc. (2011), Edition: New Edition, 372 pages


The second volume in Liberty Fund's Collected Works of Israel M. Kirzner series, Market Theory and the Price System was published in 1963 as Kirzner's first (and only) textbook. This volume presents an integrated view of Austrian price theory. The basic aim of Market Theory is to utilize the tools of economic reasoning to explain the market process. The unique framework Kirzner develops for microeconomic analysis, following Mises and Hayek, examines errors in decision-making, entrepreneurial profit, and competition as a process of discovery and learning.Israel M. Kirzner is a leading economist in the Austrian School and Professor Emeritus of Economics at New York University.Peter J. Boettke is University Professor of Economics and Philosophy at George Mason University and the BB&T Professor for the Study of Capitalism at the Mercatus Center.Fr d ric Sautet is a visiting associate professor of economics at the Catholic University of America. Previously, he has taught at George Mason University, New York University, and the University of Paris Dauphine.Please note: This title is available as an ebook for purchase on Amazon, Barnes and Noble, and iTunes.… (more)



Original language


Physical description

372 p.; 6.1 inches


0865977593 / 9780865977594
Page: 0.465 seconds