Veronique de Rugy: Why Israel Kirzner Should Win the Nobel Prize in Economic Sciences


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It's Nobel Prize season again! You know what that means: It's time for nerds to obsessively speculate and model predictions of which leading scientists will be awarded the coveted Swedish honor. This year, Veronique de Rugy reports, she's pleased to see that Thomson Reuters includes Israel Kirzner on the short list for the economic science prize, due to his paradigm-shifting contributions to the study of entrepreneurship. Whether he wins or not, de Rugy writes, the prospect gives us an opportunity to talk about his scholarship. If you have heard of Kirzner, it is likely through his association with the modern "Austrian" school of economics and tutelage under another great Nobel-winning economist, F.A. Hayek. But these Austrians are no ordinary free-market guys.