Chicago economists shared LSE hostility to New Deal and Keynesian policy

Evidence

It is easy to understand why economists at the LSE would have seen the faculty of the University of Chicago as engaged in a similar endeavor on the other side of the Atlantic. Chicago economists had developed a reputation as leading opponents of the economic policies associated with the New Deal. Several of them were highly critical of institutionalism, a methodology that relied on precisely the modes of inductive reasoning that Robbins had denounced. After Keynes published his General Theory, some of the sharpest criticism of his ideas emanated from their department. — Angus Burgin, The Great Persuasion, 88

Categorization

• XREF: Institutionalism as the shared methodological enemy connects to the broader anti-empiricist strand in neoliberal thought Robbins and Hayek carried. — connects to: LSE and Chicago economists formed a tight transatlantic alliance against collectivism — Angus Burgin, The Great Persuasion: Reinventing Free…, 87; Chicago economists led opposition to the New Deal and Keynesian doctrine — Angus Burgin, The Great Persuasion: Reinventing Free…, 88; Chicago and LSE founders rejected the new market advocates’ politicized rhetoric — Angus Burgin, The Great Persuasion: Reinventing Free…, 141 (+6 more)

Broader Connections

• Chicago economists led opposition to the New Deal and Keynesian doctrine #corroborates (0.98) — Angus Burgin, The Great Persuasion, 88
• The LSE and Chicago economics departments formed a prewar axis of free-market allies #corroborates (0.90) — Angus Burgin, The Great Persuasion, 87
• Chicago and LSE market advocates were rarely united and often opposed #contradicts (0.85) — Angus Burgin, The Great Persuasion, 45
• Chicago economists in 1937 saw Keynes as a fascist threat. #expands (0.80) — Angus Burgin, The Great Persuasion, 161
• Chicago and LSE founders rejected the new market advocates’ politicized rhetoric #qualifies (0.75) — Angus Burgin, The Great Persuasion, 141
• Hayek wrote The Road to Serfdom to convert his Fabian colleagues at the LSE #responds-to (0.75) — Jessica Whyte, The Morals of the Market, 239
• Hayek was not a prominent figure at LSE, Robbins and Plant dominated #contradicts (0.75) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 455
• Hayek’s epistemic turn made market-derived hostility to markets a central puzzle #complicates (0.73) — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 101