The Chicago school of economics: Going off the rails

Posted: October 23, 2015 in economy
Tags: , ,

UK Only Article: 
standard article

Issue: 

Reinventing the company

Fly Title: 

The Chicago school of economics

Rubric: 

How libertarians hijacked liberal economics

Main image: 

20151024_BKP504.jpg

Chicagonomics: The Evolution of Chicago Free Market Economics. By Lanny Ebenstein; 278 pages; $29.99 
SINCE its foundation in 1890, the University of Chicago has built a world-class reputation for economics. Since 1969 it has produced no fewer than 28 winners of the Nobel prize for economics, including Friedrich Hayek, Milton Friedman and George Stigler, far outnumbering any other institution. Its policy prescriptions—favouring freer markets and the strict control of the money supply—are seen as having dominated economic policy across the developed world since gaining favour under Ronald Reagan in America and Margaret Thatcher in Britain.

Since the financial crisis, however, the “Chicago school” of ideas has looked to be in retreat, at least in policy terms. The collapse of Lehman Brothers in 2008 …

via Economic Crisis http://ift.tt/1RqyO6d

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s