Quotation of the Day…

by Don Boudreaux on May 26, 2016

in Economics

… is from page 56 of the 2013 Liberty Fund edition of Israel Kirzner’s path-breaking 1973 volume, Competition and Entrepreneurship:

The task of a theory of the market is to provide insight into the course of events set in motion by the state of market disequilibrium.  The crucial question concerns the nature of the forces that bring about changes in the buying, selling, producing, and consuming decisions that make up the market.  And it is here that the entrepreneurial notion is indispensable.

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