Honoring Israel Kirzner

On Friday, Pakistani child education activist Malala Yousafzay became the youngest Nobel laureate in history at just 17

Malala is famous for having been shot by a Taliban member

Libertarians and economics nerds around the world waited with baited breath this morning in hopes that another stalwart voice for liberty would receive a Nobel Prize this year — Austrian economist and NYU professor emeritus Israel Kirzner. Many had speculated that he was a top candidate for the prestigious award for his contributions to the study of entrepreneurialism and how innovation drives the economy forward. However, this morning, the committee announced that the 2014 Nobel Prize for economics has been awarded to French economist Jean Tirole for shedding light on how governments can “tame” the big businesses that dominate once-public monopolies like railways, highways and telecommunications. While proponents of free markets will surely be disappointed by the announcement, we would like to congratulate and celebrate Kirzner’s monumental accomplishments.

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