History of Economic Thought - Monetarism and The Chicago School

Monetarism and The Chicago School

Main articles: Monetarism and Chicago school (economics) See also: Monetarism, Gary Becker, George Stigler, Frank Knight, Robert E. Lucas, and Robert Fogel

The interventionist monetary and fiscal policies that the orthodox post-war economics recommended came under attack in particular by a group of theorists working at the University of Chicago, which came to be known as the Chicago School. This more conservative strand of thought reasserted a "libertarian" view of market activity, that people are best left to themselves, free to choose how to conduct their own affairs.

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