The Alert and Creative Entrepreneur: A Clarification

15 Pages Posted: 26 Aug 2008 Last revised: 17 Apr 2019

See all articles by Israel M. Kirzner

Israel M. Kirzner

New York University (NYU) - Department of Economics

Date Written: August 11, 2008


Israel M. Kirzner is the 2006 winner of The International Award for Entrepreneurship and Small Business Research (the FSF-Nutek Award). In this Prize Lecture he argues that a number of those who have commented on his work have misunderstood certain aspects of his theoretical system, and as a result the common distinction in the literature between "Schumpeterian" and "Kirznerian" entrepreneurs is flawed. He also argues that his understanding of the market process (set in motion by entrepreneurial decisions) provides a theoretical underpinning for public policy vis-a-vis entrepreneurship. Professor Kirzner's main contributions to the economics of entrepreneurship were also presented and evaluated by Douhan, Eliasson and Henrekson (2007).

Keywords: Austrian economics, Economic development, Entrepreneurship, Small business economics

JEL Classification: B49, B52, B53, O31

Suggested Citation

Kirzner, Israel M., The Alert and Creative Entrepreneur: A Clarification (August 11, 2008). IFN Working Paper No. 760, Available at SSRN: or

Israel M. Kirzner (Contact Author)

New York University (NYU) - Department of Economics

269 Mercer Street, 7th Floor
New York, NY 10011
United States

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