The Chicago School

"Schools emerge in response to scientific need; they are not created in some social compact. That must mean that they serve an important scientific function- to bring together a group of scholars who share a common view of the proper new direction of their science. The group strengthens their common view of the science’s proper agenda by self-criticism, varied applications, constant emendation, and usually vigorous controversy with rival research agenda (“paradigms”). A major reorientation of a full-scale discipline almost invariably calls for the efforts of several scholars: Even an Isaac Newton or an Adam Smith required disciplines and fellow workers to conquer an established doctrine or methodology. I consider, with no pretence of objectivity, that the Chicago School has been an important source of the prosperity of American economics."

-George J. Stigler, Memoirs of an Unregulated Economist, p.169

Book presentation via orgtheory;

The Chicago School: How the University of Chicago Assembled the Thinkers Who Revolutionized Economics and Business By Johan Van Overtveldt


Related;
The Chicago School by Tyler
Economics in Chicago

Before defining the “Chicago school” Mr Van Overtveldt clears his throat to discuss what he calls the “Chicago tradition”. This, he says, is characterised by hard work; a belief that economics is a true science; belief in advancement by excellence alone; an often brutal debating culture; and an accident of geography. Not only is Chicago a long way from anywhere, its Hyde Park campus is trapped between Lake Michigan and some of Chicago's roughest districts. “Discussion went on and on,” recalls Deirdre McCloskey, an economics historian interviewed by the author. “It never stopped because there was literally nothing else to do.”

Chicago School Produced Friedman, `Freakonomics,' Bloodbaths