Stressing verbal logic rather than mathematics, Israel M. Kirzner provides at once a thorough critique of contemporary price theory, an essay on the theory of entrepreneurship, and an essay on the theory of competition. "Competition and Entrepreneurship" offers a new appraisal of quality competition, of selling effort, and of the fundamental weaknesses of contemporary welfare economics.
Kirzner's book establishes a theory of the market and the price system which differs from orthodox price theory. He sees orthodox price theory as explaining the configuration of prices and quantities that satisfied the conditions for equilibrium. Mr. Kirzner argues that "it is "more" useful to look to price theory to help understand how the decisions of individual participants in the market interact to generate the market forces which compel changes in prices, outputs, and methods of production and in the allocation of resources."
Although "Competition and Entrepreneurship" is primarily concerned with the operation of the market economy, Kirzner's insights can be applied to crucial aspects of centrally planned economic systems as well. In the analysis of these processes, Kirzner clearly shows that the rediscovery of the entrepreneur must emerge as a step of major importance.

Israel Kirzner is the foremost proponent of the modern Austrian theory of the market process. This book offers substantive insights in support of this theory and a new historical interpretation of how the ideas of modern Austrians emerged.

奥地利经济学派的100年历史中，承上启下最为重要的一个人物就是米塞斯，他被公认为战后奥地利学派的教父和精神领袖。任何一部经济学工具书都公认，他是20世纪最重要，最有影响的经济学家，他也是哈耶克的老师。研究了解米塞斯的思想，是了解该学派核心价值和主要理论必不可少的前提。通过阅读和研究米塞斯的思想，可以加强对社会经济生活规律的认识，读米塞斯的著作，其效果就相当于读哈耶克的著作，后者偏重于政治法律，而米塞斯主要是在社会经济领域。米塞斯是思想的先行者，也是古典经济学价值观的解释者和坚守者。米塞斯去世后，其影响非但不衰，反而增强，美国有专门的米塞斯研究所和研究期刊，聚集着众多的学者和经济学爱好者研讨其思想，还有一所米塞斯学校，专门举办培训班讲解其思想，研读其著作。在美国之外也有一些国家设立了米塞斯研究所。随着市场经济的深入人心和不可动摇，中国研读米塞斯和奥地利学派的思想和著作的专业或非专业人士也多起来，对他的热情，甚至已经超过了主流经济学家。
关于米塞斯的传记主要有两种，一是其夫人在米塞斯去世后写的回忆录，另一本即本书，是其思想学说的介绍，是了解米塞斯学术的惟一的系统专著。作者是米塞斯的学生，也是1995年罗斯巴德去世后奥地利学派的掌门人，著名的经济学家。他是米塞斯思想最权威的诠释者，他写的这本书在学术上最有价值，一般学术界都以这本书为了解米塞斯思想的标准。本书篇幅很小，但要言不烦，只有深刻把握米塞斯和奥地利学派思想的大家才能做到。
本书除了简单介绍其生平、主要著作和思想学说，也揭示了这样一个事实，即米塞斯虽然处于非主流经济学的位置，却为美国的主流思潮提供了基本的思想基础和方法。米塞斯一直是思想的先行者和社会生活真相与本质的揭示者，也是各种谬误和混乱思想的纠偏者。他堪称一位从经济学的角度进行理性启蒙的导师，也是西方自由主义经济学思潮的一面镜子。

This book offers a unique insight into the character of Austrian economics. This work also collects the recent work of the leading authorities in this area, and will be an indispensible tool for all those interested in the implications of Austrian approach on economics. The author also examines: the market economy; theories of Competition and Entrepreneurship; and the Mises-Hayek legacy.

"Market Theory and the Price System" was published in 1963 as Kirzner's first (and only) textbook. This volume presents an integrated view of Austrian price theory. The basic aim of this book is to utilise the tools of economic reasoning to explain the market process. The unique framework Kirzner develops for microeconomic analysis, following Mises and Hayek, examines error in decision-making, entrepreneurial profit, and competition as a process of discovery and learning.

The inaugural volume in Liberty Fund's new Collected Works of Israel M Kirzner series, "The Economic Point of View" contains Kirzner's 1960 doctoral dissertation under Ludwig von Mises, a work that established Kirzner as a careful and meticulous scholar of economics.