"Essays examining the science behind markets in order to make ethical judgments. A clear understanding of fundamental concepts of economic science, such as profit, interest, and entrepreneurship, makes possible true statements about welfare economics, the morality of market transactions, and...

In Essays on Capital and Interest, Israel Kirzner offers a consistently 'Austrian' perspective on the problems of capital and interest theory. In the three classic essays featured in this book, Professor Kirzner argues that an Austrian approach based on the pure time preference theory offers an...