Praxeology, entrepreneurship and the market process: A review of Kirzner's contribution

The entrepreneur is shorthand for uncertainty, imperfect information, and the unknown. He operates in the shadowy world of intuition, ignorance, and disequilibrium. As a functional agent, he is completely outside the scope of modern orthodox economic analysis because entrepreneurial issues are irrelevant and, more important, inadmissible, in the deterministic, tightly interlocking theoretical environment that is modern microeconomic theory (Barreto 1989, p. 137).