Kirzner provides an overview of Austrian economics, highlighting the knowledge problem, spontaneous order and Hayek’s “fatal conceit.”

Israel Kirzner is an Austrian economist and one of the world’s foremost experts on Ludwig von Mises’s methodology and thought. Here he speaks at a Future of Freedom Foundation event on December 21, 1996 and provides a general overview of Austrian economics, touching on the concepts of imperfect knowledge, the origin of entrepreneurial motive, spontaneous order, and the “fatal conceit” of attempting to centrally plan economic orders.