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Adam Smith and the Chicago School

In: The Elgar Companion to the Chicago School of Economics

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  • Steven G. Medema

Abstract

Many know the Chicago School of Economics and its association with Milton Friedman, George Stigler, Ronald Coase and Gary Becker. But few know the School's history and the full scope of its scholarship. In this Companion, leading scholars examine its history and key figures, as well as provide surveys of the School's contributions to central aspects of economics, including: price theory, monetary theory, labor and economic history. The volume examines the School's traditions of applied welfare theory and law and economics while providing a glimpse into emerging research on Chicago's role in the development of neoliberalism.

Suggested Citation

  • Steven G. Medema, 2010. "Adam Smith and the Chicago School," Chapters, in: Ross B. Emmett (ed.), The Elgar Companion to the Chicago School of Economics, chapter 3, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:2591_3
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    References listed on IDEAS

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    1. Gary S. Becker, 1981. "A Treatise on the Family," NBER Books, National Bureau of Economic Research, Inc, number beck81-1, March.
    2. Jerry Evensky, 2005. "“Chicago Smith” versus “Kirkaldy Smith”," History of Political Economy, Duke University Press, vol. 37(2), pages 197-203, Summer.
    3. Reder, Melvin W, 1982. "Chicago Economics: Permanence and Change," Journal of Economic Literature, American Economic Association, vol. 20(1), pages 1-38, March.
    4. Ross B. Emmett, 2016. "Chicago School," Chapters, in: Gilbert Faccarello & Heinz D. Kurz (ed.), Handbook on the History of Economic Analysis Volume II, chapter 25, pages 368-374, Edward Elgar Publishing.
    5. Ronald H. Coase, 2000. "The new institutional economics," Chapters, in: Claude Ménard (ed.), Institutions, Contracts and Organizations, chapter 1, Edward Elgar Publishing.
    6. Medema, Steven G., 1996. "Of Pangloss, Pigouvians and Pragmatism: Ronald Coase and Social Cost Analysis," Journal of the History of Economic Thought, Cambridge University Press, vol. 18(1), pages 96-114, April.
    7. Jacob Viner, 1927. "Adam Smith and Laissez Faire," Journal of Political Economy, University of Chicago Press, vol. 35, pages 198-198.
    8. George J. Stigler, 1950. "The Development of Utility Theory. II," Journal of Political Economy, University of Chicago Press, vol. 58, pages 373-373.
    9. Edward P. Lazear, 2000. "Economic Imperialism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(1), pages 99-146.
    10. Stigler, George J, 1976. "The Successes and Failures of Professor Smith," Journal of Political Economy, University of Chicago Press, vol. 84(6), pages 1199-1213, December.
    11. George J. Stigler, 1952. "The Ricardian Theory of Value and Distribution," Journal of Political Economy, University of Chicago Press, vol. 60, pages 187-187.
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    Cited by:

    1. Madarász, Aladár, 2012. "Adósság, pénz és szabadság [Taxation, money and freedom]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 457-507.
    2. Madarász, Aladár, 2014. "A láthatatlan kéz - szemelvények egy metafora történetéből [The invisible hand - extracts from the history of a metaphor]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 801-844.
    3. Johan Graafland, 2023. "On Rule of Law, Civic Virtues, Trust, and Happiness," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 18(4), pages 1799-1824, August.
    4. Signorino, Rodolfo, 2012. "Old lady charm: a comment," MPRA Paper 39211, University Library of Munich, Germany.
    5. Whittaker, Julie, 2011. "The evolution of environmentally responsible investment: An Adam Smith perspective," Ecological Economics, Elsevier, vol. 71(C), pages 33-41.

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