Chicago School

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Related to Chicago school economics: Milton Friedman

Chicago School

n.
1. A group of US architects of the late 1800s to early 1900s, including William Le Baron Jenney and Louis Sullivan, noted for their utilitarian designs and their use of steel framing as a skeleton for multistory buildings.
2. An approach to economics that emphasizes monetarism and disfavors government intervention in the free-market economy as inherently inefficient.

[So called because many important figures in the school were active in Chicago, Sense 2, so called because important advocates of the approach were University of Chicago faculty members.]
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The only silver lining to the Great Recession is it has dented Chicago School economics.
In Reality Ignored: How Milton Friedman and Chicago Economics Undermined American Institutions and Endangered the Global Economy , Kenneth Davidson blames Milton Friedman and Chicago School Economics for damaging American society and its economy.
Krugman's heavy pounding of Chicago School economics goaded Cochrane, a professor of finance, into some bad-tempered counter-punching on the university's Web site, much of which consisted of a personal attack on Krugman's scientific integrity.

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