The Reading Room

The Best of the OLL No. 27: Israel Kirzner, “Efficiency, Coordination, and the Market Economy” (1963)

This is part of “The Best of the Online Library of Liberty” which is a collection of some of the most important material in the OLL. This is a chapter from Kirzner’s book *Market Theory and the Price System* (1963) in which he discusses the key role played by prices in a free economy and how these prices lead entrepreneurs to find out how to best satisfy the needs of consumers in order to solve their individual economic problems.