Chicago, Post-Chicago, Post-Post-Chicago: On Using Shorthand Labels Responsibly

Joshua Wright July 25, 2007

Truth on the Market View Original Source

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Over the past few weeks I’ve read at least two dozen papers, mostly by legal scholars (but some by economists) employing or critiquing economic analysis of law, that use the term “Chicago School,” in a critical and misleading way.  Conventionally, use of this nomenclature comes along with a claim that “Chicago School” economics is code for a particular form of non-interventionist, politically conservative philosophy based upon only an unjustified “faith” in markets.

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