Is the market economy driven by greed as commonly alleged? The
recognized social-efficiency of the market economy depends
critically on the discovery and pursuit of entrepreneurial profit,
which calls not necessarily for selfishness or greed, but for
purposefulness of human action. In principle, a profit-seeking
market economy could function effectively even where all
entrepreneurs were pure altruists.
Professor Kirzner is a world’s leading scholar on
entrepreneurship and market process. He has written a dozen books
including widely cited The Economic Point of View
(Princeton, 1960), Competition and Entrepreneurship
(Chicago, 1973), Perception, Opportunity and Profit
(Chicago, 1979), and Discovery, Capitalism and Distributive
Justice (Oxford 1989).
For question, please contact Prof. Young Back Choi (Eco/Fin) at