The University of Chicago's record regarding the number of its students, professors and other associates that have made a contribution to the discipline of economics is altogether enviable. In this book review, the Economist Magazine dissects Johan Van Overtveldt's book, The Chicago School. It mentions the understandable and largely plausible reasons for the rise of this school situated in Hyde Park. The most interesting revelation in the review relates to the peculiar geographical location of the University which the author credits with having left professors and students with no option but to debate issues incessantly. That is an ingenious way of converting the disadvantage of being locked between Lake Michigan on one side and a deprived district on the other. That response is in itself evidence of the keen minds that were resident at the school.
I surmise from the review that the book does not gloss over the fact that Chicago economics, however influential is not without equally erudite dissenters. Indeed, certain professors in the school are leading critics of some of its tenets such as the efficient-markets hypothesis. this blogger will post a full review after reading the text in full.
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