Israel M. Kirzner received his Ph.D. under Professor Ludwig von Mises at New York University in 1957, and has been on the faculty ever since receiving his doctorate. The author of eleven books, including Competition and Entrepreneurship; Discovery, Capitalism and Distributive Justice (University of Chicago Press, 1973), and The Meaning of Market Process: Essays in the Development of Modern Austrian Economics (Routledge, 1992), editor of five volumes, and author of over a hundred scholarly articles, Professor Kirzner has during his career lectured widely on Austrian Economics at universities and conferences around the world, and has played a leading role in the late twentieth century revival of Austrian Economics.
The writings of the great majority of economists over the past thirty years have supported the powerful currents that sweep the modern world toward centralized authority, interventionism, and statism. The teachings of these economists led generations of students and laymen to believe uncritically that an economy based on unhampered individual enterprise and the institution of private property must breed unemployment, instability, resource misallocation, stagnation and an unjust distribution of income. And yet, there has consistently been a dissenting minority whose voices are not completely drowned out by the teachings of their colleagues. . . .