Competition and Entrepreneurship

Kirzner, writing from a neo-Austrian economic perspective that is inherently dynamic with an emphasis on null over time, offers a critique of the prevailing positivistic, value freedom of orthodox microeconomics and price theory, focusing on what he believes is its unrealistic emphasis on static equilibrium analysis. Kirzner criticizes the methodology of Robbinsian equililbrium analysis in which a competitive market is a situation in which...