the Chicago School
The Chicago School refers to a group of economists and scholars associated with the University of Chicago, particularly known for their influential ideas in the early to mid-20th century. They advocate for free-market principles, arguing that markets are generally efficient and that government intervention should be minimal. Their work covers various topics, including price theory, public choice, and the study of individual behavior in economics. The Chicago School has significantly impacted economic policy, promoting ideas like deregulation and reduced government spending, shaping modern economic thought and practices.
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The Chicago School refers to a group of economists and a university in Chicago known for their influential ideas on free-market capitalism. Founded in the early 20th century, it emphasizes minimal government intervention in the economy, believing that markets function best when left to operate freely. Key figures include Milton Friedman, who argued for policies like deregulation and limited government spending. The school's theories have significantly shaped economic policies in the United States and beyond, advocating for individual choice and competition as drivers of economic efficiency and prosperity.