Chicago School

The Chicago School refers to a group of economists associated with the University of Chicago, primarily in the mid-20th century. They emphasized free markets, limited government intervention, and the idea that individuals make rational choices. Key figures like Milton Friedman argued that economic freedom leads to political freedom and prosperity. The Chicago School has significantly influenced economic policy and theory, particularly in advocating for deregulation and monetarism, which focuses on controlling the money supply to manage inflation and economic growth. Their ideas remain influential in discussions about economics and public policy today.