Israel Kirzner has spent a career in articulating and refining concept of entrepreneurship; His work is indispensable for anyone seeking an understanding of the role of the entrepreneur in the economy. This paper provides a critical appreciation of this work, and considers how Kirzner’s...

Much of the mystery attaching to the concept of capital in economics can be avoided by treating capital as a three dimensional entity, the dimensions being quantity, time and value. The literature on the subject is notable for different treatments focusing on just one or two of these dimensions...

The time is right for a reexamination of Austrian capital-theory. We attempt to capture the essence of Carl Menger's approach to capital, highlighting the important distinction between goods and the valuable services they yield (implying that goods are valuable only because they yield valuable...