Keynes, Chicago, and Friedman: an early Harvard memorandum

Research output: Contribution to conferencePaper

Abstract

John Maynard Keynes and Milton Friedman were the most influential economists of the twentieth century, if not of all time. Their influence expanded far beyond the economics profession into the domain of public opinion and the policy process. When Friedman launched his monetarist counter-revolution in 1956 he downplayed his own originality and claimed that he was doing little more than formalising an existing Chicago 'oral tradition'. Thirteen years later, as monetarism was acquiring an almost irresistible momentum, one of Friedman's friends and ex-Chicago colleague, Don Patinkin, launched a blistering attack on Friedman's account of the Chicago origins of his counter-revolution. This in turn launched the new subdiscipline of Chicago Monetarism.

Conference

ConferenceHistory of Economics Society
CityCalifornia, United States of America
Period1/07/02 → …

Fingerprint

Counter-revolution
John Maynard Keynes
Policy Process
Milton Friedman
Economics
Oral Tradition
Originality
Public Opinion
Attack
Economists

Keywords

  • monetarism
  • political economy
  • banking
  • post-war economy
  • keynes
  • friedman

Cite this

Sandilands, R. J. (2002). Keynes, Chicago, and Friedman: an early Harvard memorandum. Paper presented at History of Economics Society, California, United States of America, .
Sandilands, R.J. / Keynes, Chicago, and Friedman: an early Harvard memorandum. Paper presented at History of Economics Society, California, United States of America, .
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abstract = "John Maynard Keynes and Milton Friedman were the most influential economists of the twentieth century, if not of all time. Their influence expanded far beyond the economics profession into the domain of public opinion and the policy process. When Friedman launched his monetarist counter-revolution in 1956 he downplayed his own originality and claimed that he was doing little more than formalising an existing Chicago 'oral tradition'. Thirteen years later, as monetarism was acquiring an almost irresistible momentum, one of Friedman's friends and ex-Chicago colleague, Don Patinkin, launched a blistering attack on Friedman's account of the Chicago origins of his counter-revolution. This in turn launched the new subdiscipline of Chicago Monetarism.",
keywords = "monetarism, political economy, banking, post-war economy, keynes, friedman",
author = "R.J. Sandilands",
note = "University of California, Davis.; History of Economics Society ; Conference date: 01-07-2002",
year = "2002",
language = "English",

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Sandilands, RJ 2002, 'Keynes, Chicago, and Friedman: an early Harvard memorandum' Paper presented at History of Economics Society, California, United States of America, 1/07/02, .

Keynes, Chicago, and Friedman: an early Harvard memorandum. / Sandilands, R.J.

2002. Paper presented at History of Economics Society, California, United States of America, .

Research output: Contribution to conferencePaper

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KW - keynes

KW - friedman

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Sandilands RJ. Keynes, Chicago, and Friedman: an early Harvard memorandum. 2002. Paper presented at History of Economics Society, California, United States of America, .