The 2024 Marshall Forum held a panel on Chicago Economics, discussing its focus on big-picture questions, data-driven research, and the role of markets and government.
A panel discussion at the Marshall Forum 2024 on June 18 explored the Chicago School of Economics as it manifests today, discussing its core tenets and evolution. Eric Budish, Amir Sufi, and Luigi Zingales discussed what defines the school including its emphasis on big-picture economic questions and maintaining a balance between data-driven and conceptual frameworks. They also agreed that the legacy of Milton Friedman and the optimum role of government intervention are receiving more attention within Chicago Economics today, compared to the past.
Zingales stressed on the importance of distinguishing the pro-market position from the pro-business position, and of rediscovering the value of democracy if we are to “save ourselves from a descent into nihilism in a world where both markets and the government are imperfect.”
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