What is Austrian economics and how does it differ from other strands of neoclassical economics? These are question that anyone who has studied Austrian economics eventually gets asked. If you have ever had any trouble coming up with a satisfactory answer, fear no more. Israel Kirzner provides a nice short answer to both in today’s document (pdf). It is an outline for Professor Kirzner’s paper “Methodological Individualism, Market Equilibrium, and Market Process” (published in vol. 32 of Il Politico in 1967) and was provided for the September 1967 Mont Pelerin Society meetings in Vichy, France.
Republish This Article
This work is licensed under a Creative Commons Attribution 4.0 International License, except for material where copyright is reserved by a party other than FEE.
Please do not edit the piece, ensure that you attribute the author and mention that this article was originally published on FEE.org