This highly topical book presents a new theory on the characteristics of entrepreneurial knowledge. It explores the recent shift among professional economists and scholars in their evaluation of the debate of socialism. Socialism, Economic Calculation and Entrepreneurship presents an application of Israel M. Kirzner’s theory of entrepreneurship to the theory of the impossibility of socialism. It discusses the influence of the fall of socialism, with particular reference to the evolution of economic thought.

With innovative and timely discussions, this book will appeal to students and academics in the fields of economic systems, the economic analysis of socialism and the history of economic thought. This important resource will also be greatly received by all scholars and students interested in Austrian economics.