The Volker Fund financed the Chicago Free Market Study at $25,000 per year

Evidence

William Volker Charities Fund, Inc., accepts Dr. Hayek’s proposal and we are prepared to contribute 25,000 per annum for three years in the course of which this study is to be completed. In addition, we agree to contribute a further amount of not more than 10,000 per annum for a period of two years to cover the salary of Mr. Director for the period of two years after the investigation is completed. Also we agree to defray the expenses of the members of the Advisory Committee as they are brought to Chicago for a discussion of this study, this also to include the expenses of Dr. Hayek for any trips he makes to Chicago in further supervision of this project. — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 755

Categorization

• ADDENDUM: Concrete financial detail on the private foundation money that underwrote the Chicago School — relevant to the infrastructure/funding theme.
• XREF: connects to: The Volker Fund replaced its support for the MPS with its own conference program. — Angus Burgin, The Great Persuasion: Reinventing Free…, 321