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

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  • Robin Douhan
  • Gunnar Eliasson
  • Magnus Henrekson

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

Suggested Citation

  • Robin Douhan & Gunnar Eliasson & Magnus Henrekson, 2007. "Israel M. Kirzner: An Outstanding Austrian Contributor to the Economics of Entrepreneurship," Small Business Economics, Springer, vol. 29(1), pages 213-223, June.
    • Handle: RePEc:kap:sbusec:v:29:y:2007:i:1:p:213-223
    DOI: 10.1007/s11187-006-9041-y
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    Cited by:

    1. Magnus Henrekson & Anders Lundström, 2009. "The Global Award for Entrepreneurship Research," Small Business Economics, Springer, vol. 32(1), pages 1-14, January.
    2. Per L. Bylund & Mark D. Packard, 2022. "Subjective value in entrepreneurship," Small Business Economics, Springer, vol. 58(3), pages 1243-1260, March.
    3. Jeroen de Jong & Orietta Marsili, 2015. "The distribution of Schumpeterian and Kirznerian opportunities," Small Business Economics, Springer, vol. 44(1), pages 19-35, January.
    4. Ali Osman Uymaz & Ali Rıza Esmen, 2022. "Bitcoin Mining in Turkey as an Example of Speculative Entrepreneurship," Istanbul Business Research, Istanbul University Business School, vol. 51(2), pages 375-397, November.
    5. Joshua Hall, 2008. "Randall G. Holcombe, Entrepreneurship and economic progress," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 21(2), pages 219-222, September.
    6. Steffen Korsgaard & Henrik Berglund & Claus Thrane & Per Blenker, 2016. "A Tale of Two Kirzners: Time, Uncertainty, and the “Nature†of Opportunities," Entrepreneurship Theory and Practice, , vol. 40(4), pages 867-889, July.
    7. Kirzner, Israel M., 2008. "The Alert and Creative Entrepreneur: A Clarification," Working Paper Series 760, Research Institute of Industrial Economics.
    8. Madhuri Mahato & Julie Vardhan, 2022. "The spatial distribution of self-employment — evidence from Jharkhand," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 12(1), pages 291-304, December.
    9. Israel Kirzner, 2009. "The alert and creative entrepreneur: a clarification," Small Business Economics, Springer, vol. 32(2), pages 145-152, February.
    10. Nik Atikah Suhailah Nik Sazila & Farah Adila Abdullah & Nurul Azwa Mohamed Khadri & Syamsuriana Sidek & Fadhilahanim Aryani Abdullah & Khairiyah Mat & Mohammad Amizi Ayob & Mohammad Mijanur Rahman, 2018. "The Intention Level among Felda Youth to ReMigrate from City for Livestock Entrepreneurship: A Preliminary Study," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 8(6), pages 566-577, June.

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    More about this item

    Keywords

    Austrian economics; economic development; entrepreneurship; small business economics; B49; B52; B53; O31; L26;
    All these keywords.

    JEL classification:

    • B49 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Other
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • A - General Economics and Teaching
    • A - General Economics and Teaching

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