#chicagoschool — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #chicagoschool, aggregated by home.social.
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#SciFi #Psychohistory #Asimov
(2/3)...a marxist to a free-marketeer within weeks by one of his professors, a founder of the #ChicagoSchool.
For decades, he has been one of the key Republican scientific cornerstones that paved the way for #RonaldReagan and ultimately #TFG.
How would #UShistory be different w/o these two impactful presidents?
This is but one example. I didn't pick an emperor like # #Augustus or a dictator like #Sulla, #Hitler, #Stalin or #Putler...
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They said it couldn't happen. After decades of #antitrust enforcement against #PredatoryPricing - selling goods below cost to kill existing competitors and prevent new ones from arising - the #ChicagoSchool of neoliberal #economists "proved" that predatory pricing didn't exist and that the courts could stand down and stop busting companies for it.
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CW: Long thread/4
Friedman's orthodoxy - #monetarism - has reigned supreme for decades, which is ironic, given that Friedman and his colleagues at the #ChicagoSchool of Economics claimed that they had elevated economics into an empirical, quantitative science, a kind of physics of human action, not like those squishy, #SocialSciences.
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The primary aim of #competition in the #freemarket ought to be promoting #differentiation rather than mere low prices, as the former is favorable towards a large distribution of businesses in a sector, whereas the latter drives towards a winner-takes-all #consolidation and #monopolization.