Israel Kirzner has been one of the leaders in fashioning an Austrian school of economics. In his rendering of the Austrian school, one finds a marriage between Friedrich Hayek's discourse with Ludwig von Mises's deductive, praxeological image of science of Ludwig von Mises - a marriage that...

As many have argued, libertarianism as idea and movement contains strands that often conflict, beg questions, or try our sensibilities. There are in fact multiple libertarianisms. Two leading theorists of modern libertarianism are Friedrich Hayek and Murray Rothbard. Both pupils of Ludwig von...

The word coordination has two meanings, and these meanings are often conflated. One meaning, associated with Thomas Schelling, is seen in situations like choosing whether to drive on the left or the right; the driver must coordinate to each other's behavior. The other meaning, associated with...

Friedrich Hayek and Israel Kirzner have suggested that the availability of profit opportunities tends to evoke entrepreneurial discovery. But many have downplayed the conjecture because the Hayekians have not been able to demonstrate the validity of the conjecture. In fact, Hayekians discuss why...