Chicago school

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Related to Chicago school economics: Milton Friedman

Chicago school

a group of economists at Chicago University, most notable of whom is Milton FRIEDMAN, who have adopted and refined the QUANTITY THEORY OF MONEY, arguing the need for governments to control the growth of the MONEY SUPPLY over the long term. Within the broad parameters set by stable money growth, the Chicago school stresses the importance of the market system as an allocative mechanism, leaving consumers free to make economic decisions with minimal government interference. See MONETARISM.
References in periodicals archive ?
Since Friedman published Capitalism & Freedom in 1962, Chicago School Economics has created one side of America's political debate.
Chicago School economics has never been more vulnerable than it is today -- and deservedly so.
Freakonomics brings Chicago School economics to the masses.

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