Market Theory and the Price System, second volume of The Collected Works of Israel M. Kirzner
After Economic point of view, his 1960 thesis and first volume, Liberty Fund publishes a second Israel Kirzner’s book in the occasion of the ten volumes Collected Works of Israel M. Kirzner. This one contains the 1963 Market Theory and the Price System with an original preface, the autor’s preface, appendix and index.
In his only textbook Kirzner presents an integrated view of Austrian price theory. Here, the basic aim 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 error in decision-making, entrepreneurial profit, and competition as a process of discovery and learning.