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Power without Glory - George Stigler's Market Leviathan

Author

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  • Dr Craig Freedman

    () (Department of Economics, Macquarie University)

Abstract

George Stigler, as much if not more than his colleague Milton Friedman, greatly shaped the direction of economics in the post-war era. Part of his ability to do so lay in his critical responses to views that opposed his own fiercely held framework. This paper attempts to supply a consistent rationale for both the opponents he chose and for his choice of adopting such an adversarial approach in combating them. By doing so, I hope to clarify three key issues that gripped the economics profession during this period. These are: redistribution versus market competition; market efficiency versus economic growth; and collective versus individual choice.

Suggested Citation

  • Dr Craig Freedman, 2004. "Power without Glory - George Stigler's Market Leviathan," Research Papers 0404, Macquarie University, Department of Economics.
  • Handle: RePEc:mac:wpaper:0404
    as

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    File URL: http://www.econ.mq.edu.au/research/2004/PowerWithoutGlory2.pdf
    File Function: First Version, 2004
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    More about this item

    Keywords

    George Stigler; income distribution; liberty; ideology.;

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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