Chicago school of economics

The Chicago school of economics—an academic tradition centered at the University of Chicago, emphasizing free-market, price-theoretic, and generally conservative economic methodology. It encompasses the faculty, workshops, graduate programs, and affiliated economists that forged a shared methodological identity in economics and influenced policy (e.g., the Chicago–Chile project).

Claims that use this term

• The Chicago faculty instilled price-system conservatism into its graduate students
• The Chicago workshops forged the school’s shared methodological identity
• The Chicago and MIT finance groups were divided by methodology and by free-market politics
• The Chicago–Chile economics project produced over a dozen top government economic officials
• The Chicago economists ignored contract terms where political goals mattered more