The Chicago School: How the University of Chicago Assembled the Thinkers Who Revolutionized Economics and Business

Overview


When Richard Nixon said “We are all Keynesians now” in 1971, few could have predicted that the next three decades would result in a complete transformation of the global economic landscape. The transformation was led by a small, relatively obscure group within the University of Chicago’s business school and its departments of economics and political science. These thinkers — including Milton Friedman, Gary Becker, George Stigler, Robert Lucas, and others — revolutionized economic orthodoxy in the second half of ...
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The Chicago School: How the University of Chicago Assembled the Thinkers Who Revolutionized Economics and Business

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Overview


When Richard Nixon said “We are all Keynesians now” in 1971, few could have predicted that the next three decades would result in a complete transformation of the global economic landscape. The transformation was led by a small, relatively obscure group within the University of Chicago’s business school and its departments of economics and political science. These thinkers — including Milton Friedman, Gary Becker, George Stigler, Robert Lucas, and others — revolutionized economic orthodoxy in the second half of the 20th century, dominated the Nobel Prizes awarded in economics, and changed how business is done around the world. Written by a leading European economic thinker, The Chicago School is the first in-depth look at how this remarkable group came together. Exhaustively detailed, it provides a close recounting of the decade-by-decade progress of the Chicago School's evolution. As such, it's an essential contribution to the intellectual history of our time.
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Editorial Reviews

From the Publisher

"This is an admirably detailed and thoroughly welcome history of a great centre of economic thought." — The Economist

“Overtveldt is at his best in his depiction of the ruthless yet stimulating internal culture of the department during these years. Workshops that might be polite but sleepy seminars at other campuses became ‘bloodbaths’ at Chicago. Graduate classes were exercises in ‘terror.’” — Kim Phillips-Fein, Chicago Tribune

“Unique and fascinating.” — Publishers Weekly

“I enjoyed the book very much. Instead of stopping at Friedman, Coase and Director, it also offers a comprehensive treatment of [many] neglected figures… it is a landmark in the history of economic thought.” — Tyler Cowen, “The Marginal Revolution”

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Product Details

  • ISBN-13: 9781932841190
  • Publisher: Agate
  • Publication date: 1/1/2009
  • Edition description: First Trade Paper Edition
  • Pages: 432
  • Sales rank: 1,393,607
  • Product dimensions: 8.98 (w) x 5.92 (h) x 0.88 (d)

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Sort by: Showing all of 2 Customer Reviews
  • Posted January 22, 2009

    story of the United States' most influential school on economics

    The economics school of the University of Chicago has long been recognized as 'both a Mecca and a Rome for economic science for its many Nobel prize winners in economics, its number of professors and graduates holding high-level economic positions in the national government, and the impact of the economic theories associated with the school. So Van Overtveldt does not have to make the case for the University's unrivaled influence in this field of economics. Instead, he gets to the reason for this influence--and he finds two bases for this, namely the Chicago Tradition and the Chicago School. The Tradition is a cluster of 'characteristics' exemplified by individuals at the school of economics. Among these are a strong work ethic and the criterion of academic excellence as the sole basis for advancement along with a belief in the relevance of economics to the lives of ordinary individuals. The Chicago School factor entails key economic ideas and principles which have proven reliable both as explanations for economic behavior and as guidelines for successful economic policies. The bedrock belief is that 'free markets and the price mechanism are the most effective and desirable ways for a society to organize production and economic life in general.' Milton Friedman, Theodore W. Schultz, Paul Samuelson, and Frederick Hayek are economists who have been associated with the Chicago school of economics in one way or another. Van Overtveldt succinctly summarizes their ideas, precepts, work, and influence for a picture of the U.S.'s foremost educational institution in the field of economics. The author is a director of a Belgium think tank.

    1 out of 1 people found this review helpful.

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  • Anonymous

    Posted July 21, 2010

    No text was provided for this review.

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