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The Ludwig von Mises Institute

Advancing Austrian Economics, Liberty, and Peace

Advancing the scholarship of liberty in the tradition of the Austrian School

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Literature Library

Market Theory and the Price System

Market Theory and the Price System

Israel Kirzner's outstanding book on price theory is back in print. It is been very difficult to obtain it for decades, even though it is surely the best textbook on Austrian price theory ever written. The prose is crystal clear and the organization exceptional. He takes the reader through the foundations of individual action, exchange, utility, demand and supply, production, and the market process itself. Had it been in print, it would have schooled generations in Austrian price theory, and it is surely useful in the classroom today, or for general reading. Not a collection of essays, it is an integrated presentation from top to bottom, written early in Kirzner's post-doctoral career.

Publication Information Princeton, NJ: Van Nostrand, 1963.
Updated 5/27/2009