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The Elgar Companion to the Chicago School of Economics
Many know the Chicago School of Economics and its association with Milton Friedman, George Stigler, Ronald Coase and Gary Becker. But few know the School’s history and the full scope of its scholarship. In this Companion, leading scholars examine its history and key figures, as well as provide surveys of the School’s contributions to central aspects of economics, including: price theory, monetary theory, labor and economic history. The volume examines the School’s traditions of applied welfare theory and law and economics while providing a glimpse into emerging research on Chicago’s role in the development of neoliberalism.
More Information
Critical Acclaim
Contributors
Contents
More Information
Many know the Chicago School of Economics and its association with Milton Friedman, George Stigler, Ronald Coase and Gary Becker. But few know the School’s history and the full scope of its scholarship. In this Companion, leading scholars examine its history and key figures, as well as provide surveys of the School’s contributions to central aspects of economics, including: price theory, monetary theory, labor and economic history. The volume examines the School’s traditions of applied welfare theory and law and economics while providing a glimpse into emerging research on Chicago’s role in the development of neoliberalism.
A companion in the true sense of the word, this volume surveys a wide body of Chicago economic studies and guides readers carefully through each. The Companion offers biographies of leading Chicago economists and evaluations of the School’s connection to approaches to economics that draw from and complement the School, including the Virginia School and the work of Armen Alchian and Edward Lazear. Moreover, this book is a first in many respects as it analyzes the interconnections of the Chicago School’s theory, methodology, and policy, and considers by what means and ideas the School’s policy framework is driven.
The breadth and depth of the insights presented here will appeal especially to students and scholars of economics and historians interested in economics, social science and applied public policy.
A companion in the true sense of the word, this volume surveys a wide body of Chicago economic studies and guides readers carefully through each. The Companion offers biographies of leading Chicago economists and evaluations of the School’s connection to approaches to economics that draw from and complement the School, including the Virginia School and the work of Armen Alchian and Edward Lazear. Moreover, this book is a first in many respects as it analyzes the interconnections of the Chicago School’s theory, methodology, and policy, and considers by what means and ideas the School’s policy framework is driven.
The breadth and depth of the insights presented here will appeal especially to students and scholars of economics and historians interested in economics, social science and applied public policy.
Critical Acclaim
‘The attraction of the project shows in the number of eminent authors who contributed, and who in part came from very different backgrounds. . . recommended.’
– Betrand Schefold, Jahrbucher für Nationalokonomie und Statistik
– Betrand Schefold, Jahrbucher für Nationalokonomie und Statistik
Contributors
Contributors: O. Ashenfelter, H.S. Banzhaf, W.J. Barber, D.K. Benjamin, J.E. Biddle, G.L. Brady, G.G. Cain, R.B. Emmett, E. Forget, M. Gunderson, J.D. Hammond, D.W. Hands, S.D. Kasper, B.E. Kaufman, D. Laidler, H. Li, S.G. Medema, P. Mirowski, D. Mitch, E. Nik-Khah, J. Pencavel, H. Rockoff, M. Rutherford, E. Schliesser, P.N. Teixeira, R. Van Horn, S.T. Ziliak
Contents
Contents:
Preface
Introduction
Ross B. Emmett
PART I: ESSAYS ON THE CHICAGO SCHOOL
1. The Development of Post-war Chicago Price Theory
J. Daniel Hammond
2. Chicago Economics and Institutionalism
Malcolm Rutherford
3. Adam Smith and the Chicago School
Steven G. Medema
4. The Economic Organization, by Frank H. Knight: A Reader’s Guide
Ross B. Emmett
5. The Chicago School of Welfare Economics
H. Spencer Banzhaf
6. Chicago Monetary Traditions
David Laidler
7. On the Origins of A Monetary History
Hugh Rockoff
8. Chicago and Economic History
David Mitch
9. Chicago and the Development of Twentieth-Century Labor Economics
Bruce E. Kaufman
10. Human Capital, by Gary S. Becker: A Reading Guide
Pedro Nuno Teixeira
11. Chicago Law and Economics
Steven G. Medema
12. Friedman, Positive Economics, and the Chicago Boys
Eric Schliesser
13. Neoliberalism and Chicago
Robert Van Horn and Philip Mirowski
14. Armen Alchian on Evolution, Information, and Cost: The Surprising Implications of Scarcity
Daniel K. Benjamin
15. The Chicago Roots of the Virginia School
Gordon L. Brady
PART II: SOME CHICAGO ECONOMISTS
1. Gary S. Becker
Pedro Nuno Teixeira
2. Ronald Harry Coase
Steven G. Medema
3. Aaron Director
Robert Van Horn
4. Paul H. Douglas
Glen G. Cain
5. Berthold Frank Hoselitz
David Mitch
6. Frank H. Knight
Ross B. Emmett
7. J. Laurence Laughlin
William J. Barber
8. Edward P. Lazear
Morley Gunderson
9. H. Gregg Lewis
Jeff E. Biddle
10. Deirdre N. McCloskey
Stephen T. Ziliak
11. Richard A. Posner
Steven G. Medema
12. Albert Rees
Orley Ashenfelter and John Pencavel
13. Margaret Gilpen Reid
Evelyn Forget
14. Sherwin Rosen
Hao Li
15. Henry Schultz
D. Wade Hands
16. Theodore William Schultz
Pedro Nuno Teixeira
17. Henry Calvert Simons
Sherryl D. Kasper
18. George J. Stigler
Edward Nik-Khah
19. Jacob Viner
William J. Barber
Index
Preface
Introduction
Ross B. Emmett
PART I: ESSAYS ON THE CHICAGO SCHOOL
1. The Development of Post-war Chicago Price Theory
J. Daniel Hammond
2. Chicago Economics and Institutionalism
Malcolm Rutherford
3. Adam Smith and the Chicago School
Steven G. Medema
4. The Economic Organization, by Frank H. Knight: A Reader’s Guide
Ross B. Emmett
5. The Chicago School of Welfare Economics
H. Spencer Banzhaf
6. Chicago Monetary Traditions
David Laidler
7. On the Origins of A Monetary History
Hugh Rockoff
8. Chicago and Economic History
David Mitch
9. Chicago and the Development of Twentieth-Century Labor Economics
Bruce E. Kaufman
10. Human Capital, by Gary S. Becker: A Reading Guide
Pedro Nuno Teixeira
11. Chicago Law and Economics
Steven G. Medema
12. Friedman, Positive Economics, and the Chicago Boys
Eric Schliesser
13. Neoliberalism and Chicago
Robert Van Horn and Philip Mirowski
14. Armen Alchian on Evolution, Information, and Cost: The Surprising Implications of Scarcity
Daniel K. Benjamin
15. The Chicago Roots of the Virginia School
Gordon L. Brady
PART II: SOME CHICAGO ECONOMISTS
1. Gary S. Becker
Pedro Nuno Teixeira
2. Ronald Harry Coase
Steven G. Medema
3. Aaron Director
Robert Van Horn
4. Paul H. Douglas
Glen G. Cain
5. Berthold Frank Hoselitz
David Mitch
6. Frank H. Knight
Ross B. Emmett
7. J. Laurence Laughlin
William J. Barber
8. Edward P. Lazear
Morley Gunderson
9. H. Gregg Lewis
Jeff E. Biddle
10. Deirdre N. McCloskey
Stephen T. Ziliak
11. Richard A. Posner
Steven G. Medema
12. Albert Rees
Orley Ashenfelter and John Pencavel
13. Margaret Gilpen Reid
Evelyn Forget
14. Sherwin Rosen
Hao Li
15. Henry Schultz
D. Wade Hands
16. Theodore William Schultz
Pedro Nuno Teixeira
17. Henry Calvert Simons
Sherryl D. Kasper
18. George J. Stigler
Edward Nik-Khah
19. Jacob Viner
William J. Barber
Index