According to him, Schumpeter's failure to recognize the entrepreneur as a decision-maker, and his exclusive emphasis on disruptive innovation, left market-correcting policies to planners. Kirzner's own concept considered entrepreneurship decisive to explain the equilibrating adjustments over time, replacing static equilibrium by intertemporal equilibrium. Kirzner distinguished two entrepreneurship issues: a) the discovery of the best way of action, and b) actually carrying out activities no matter if best or second or third best. According to him, the focus of the existing entrepreneurship discussion was on the first—calculative—dimension whereas he conceived of the need to recognize the second dimension as the real entrepreneurial function.

Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, loc. 277