Chicagonomics: The Evolution of Chicago Free Market Economics

Hardcover | October 6, 2015

byLanny Ebenstein

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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.

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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 ...

LANNY EBENSTEIN is a Lecturer in the Department of Economics at UCSB, teaching the history of economic and political thought. From 1990 to 1998, Dr. Ebenstein was an elected member of the Santa Barbara Board of Education. He has written ten books on the history of economic and political thought, including the first biographies of Frie...

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Format:HardcoverDimensions:304 pages, 9.59 × 6.38 × 1.12 inPublished:October 6, 2015Publisher:St. Martin's PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0230621953

ISBN - 13:9780230621954

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Extra Content

Table of Contents

Preface

Introduction

1. Roots in the Eighteenth and Nineteenth Centuries

2. Rockefeller's University and the Department of Political Economy

3. Jacob Viner as Classical Liberal

4. Frank Knight to Chicago

5. Chicago and Austrian Economics in the 1930s

6. Henry Simons on Progressive Taxation

7. Cowles Commission and Keynesians

8. The Postwar Chicago School of Economics

9. Chicago Economists in Academia

10. Law, Economics, and Political Philosophy

11. Hayek at Chicago: Philosopher of Classical Liberalism

12. Friedman as Economist and Public Intellectual

13. The 1980s Crescendo and Contemporary Libertarianism

Conclusion

Appendix. Friedman on Hayek Interview

Samuelson on Friedman Letter

Bibliographical Essay

Notes

Index

Editorial Reviews

**One of BloombergView's "Five Books That Put Some Life in the Dismal Science"**"Chicagonomics, a new book by Lanny Ebenstein, a prolific author on the history of economic thought, sets out to investigate the history of the Chicago school of economics, to see what can be learnt for today from its past...deserves to be read by all those with an interest in economic policy." -The Economist"Ebenstein, the son of a political scientist who taught briefly at the University of Chicago, has written 10 books on economic and political history ... With this book, he joins a group of detractors of modern-day American conservatism who are sympathetic to many of the ideas of conservatism but harshly critical of how it is now practiced." -New York Times Book Review"For better or for worse, and it has been some of both, economics at the University of Chicago has had an immense impact on the profession and on the world. This important book tells that very important story in a lively and entertaining way." -Lawrence Summers, Secretary of the Treasury under President Clinton, Former President of Harvard"I have learned much from your book and I congratulate you for doing a fine bit of work. I especially appreciate what you wrote about Hayek." -Lester Telser, Professor Emeritus of Economics, University of Chicago"Chicagoeconomics has had a profound impact on economic science. This accessible and enjoyable book tells the story starting from its origins. Readers will discover that chicagoeconomics is richer and more nuanced than its cliche image of market fundamentalists." -Emmanuel Saez, Professor of Economics, University of California at Berkeley"A detailed argument and an absorbing narrative combine in this important contribution to the field." -Kirkus Reviews"Well-written and useful. You can read about Henry Simons, the Cowles Commission, Hayek, Jacob Marschak, of course Milton Friedman, and much more." -Tyler Cowen, Professor of Economics, George Mason University"A lively and comprehensive study." -Sam Fleischacker, Director of Jewish Studies, University of Illinois-Chicago"Chicagonomics provides a helpful corrective to the common perception that there is a unified and cohesive 'Chicago School'" -Wall Street Journal"...Offers a comprehensive and noteworthy examination of the University of Chicago's influence on economic theory in the U.S. accessible, clear, and entertaining." -Publisher's Weekly