Ludwig Von Misses, Friedrich Hayek and Milton Friedman shaped the economy of contemporary world. The miracle of Chile was programmed by the Chicago boys who were the ultimate advocates of free market economics. Their influence extended across pacific and Thatcher was widely influenced by Hayek. Comment Please!!!!!
2006-11-02 21:48:53 · 3 answers · asked by samuel hugo 1 in Social Science ➔ Economics
It's unfortunate that the Austrian school gets such short shrift, here in the USA. But the wisdom (and prescience) of the Austrians will be demonstrated when the USA reaps the rewards of its decades-long monetary expansion and fiscal recklessness.
Glad to know that there's someone else who even knows who the Austrians are and what they're about. And cares.
2006-11-02 22:33:34 · answer #1 · answered by Larry Powers 3 · 0⤊ 1⤋
Ludwig Von Misses, Friedrich Hayek are Austrian School of Economics.
Milton Friedman is Chicago School and is best known as a monetarist and his empirical work
They are not the same, although both schools are considered "Conservative" in the since they are strong believers in free markets and they usually are on the same side in economic debates. Their attitude toward government differs. The Austrian school arose in Europe when Stalin and Hitler was in power, so became very distrustful of government . The Chicago school arose in America and have much more faith in the results of the democratic process.
2006-11-03 00:12:33 · answer #2 · answered by meg 7 · 0⤊ 1⤋
* The first letter in 'Pacific' should be capitalised.
* The first letter in 'Please' needn't be capitalised as it is not the first letter in a sentence.
* it is 'Ludwig von Mises', not 'Ludwig von Misses'.
* if Ludwig gets the 'von' honorific then Friedrich von Hayek should also get the same treatment.
* this forum is for asking questions, not making statements.
* well, you did ask for comments.
2006-11-02 22:13:43 · answer #3 · answered by Mardy 4 · 0⤊ 0⤋