More on the Chicago tradition

George S. Tavlas

12 citations0/0 files storedJournal of Economic Studies

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Monetary Policy and Economic Impact Economic Theory and Institutions Economic Theory and Policy

Abstract

Offers a response to David Laidler’s article “More on Hawtrey, Harvard and Chicago”, in this issue. Asserts that the unique Chicagoan quantity‐theory of the early 1930s embodied a policy framework which left it immune from the Keynesian revolution and contained important linkages with Friedman’s views in its business‐cycle analysis and policy positions. Claims that this tradition explains why Chicago (and not Harvard) originated the monetarist counter‐revolution.

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References

1936The General Theory of Employment, Interest and Money.1995A Monetary and Fiscal Framework for Economic Stability 1969The Chicago Tradition, The Quantity Theory, And Friedman 1993Hawtrey, Harvard, and the Origins of the Chicago Tradition 1997Chicago, Harvard, and the Doctrinal Foundations of Monetary Economics 1998More on Hawtrey, Harvard and Chicago 1946Monetary Policy 1977The Chicago Tradition Revisited: Some Neglected Monetary Contributions: Senator Paul Douglas (1892-1976)

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1999Monetary Interpretations of the Great Depression 1999Labels and Substance: Friedman's Restatement of the Quantity Theory

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