ABSTRACT
This article attempts to show that the theory of entrepreneurship, as developed by Israel M. Kirzner, must be an essential element of any analysis on the impossibility of socialism. As a consequence of this analysis, a new definition of socialism is proposed, based on the concept of entrepreneurship, which seems to be more generally and analytically fruitful than the standard definition. In the first section, the essence of entrepreneurship is explained. On pp. 238-242, a new definition of soci alism is introduced. After that, in the subsequent three sections, the analysis of its impossibility from the point of view of entrepreneurial theory is developed. On pp. 247-250 a critique of the alternative and traditional concepts of socialism is included in the section. Special attention is paid to the relationship between socialism and interventionism in the final section.
