Chicagonomics
The Evolution of Chicago Free Market Economics
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5.0 • 1 Rating
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- $11.99
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- $11.99
Publisher Description
Chicagonomics explores the history and development of classical liberalism as taught and explored at the University of Chicago. Ebenstein's tenth book in the history of economic and political thought, it deals specifically in the area of classical liberalism, examining the ideas of Friedrich Hayek and Milton Friedman, and is the first comprehensive history of economics at the University of Chicago from the founding of the University in 1892 until the present. The reader will learn why Chicago had such influence, to what extent different schools of thought in economics existed at Chicago, the Chicago tradition, vision, and what Chicago economic perspectives have to say about current economic and social circumstances.
Ebenstein enlightens the personal and intellectual relationships among leading figures in economics at the University of Chicago, including Jacob Viner, Frank Knight, Henry Simons, Milton Friedman, George Stigler, Aaron Director, and Friedrich Hayek. He recasts classical liberal thought from Adam Smith to the present.
PUBLISHERS WEEKLY
Ebenstein (Milton Friedman: A Biography), an economics lecturer at UC Santa Barbara, offers a comprehensive and noteworthy examination of the University of Chicago's influence on economic theory in the U.S. He emphasizes classical liberalism and free market economics, as propagated by renowned Chicago scholars such as Jacob Viner, Frank Knight, Milton Friedman, and Friedrich Hayek. The author begins with the university's founding in 1892 by John D. Rockefeller as a research-driven institution intended "to advance the frontiers of human knowledge." While painting a thorough picture of his formidable subjects' academic contributions, Ebenstein also offers details of their personal lives and temperaments, discussing Viner's childhood and Knight's tendency to alienate his colleagues but inspire his students. Though most likely to appeal to academics, this work can enlighten general readers as to economic theory's historical impact, as seen in Viner's role advising F.D.R. and in Friedman's ideas concerning monetary policy, taxation, and regulation while advising President Reagan and Prime Minister Thatcher. The subject matter is scholarly, but the tone and style are accessible, clear, and even entertaining.
