Political Science · Political Theory
UGC NET November 2021 Political Science
Who has been the most prominent among the Chicago school economists?
AAdam Smith
BCarl Menger
CFredrick Hayek
DMilton Friedman ✓ Correct
Answer: D
Explanation
★The most prominent economist of the Chicago School is Milton Friedman.
★The Chicago School is a free market tradition that took shape from the 1930s and champions monetarism and minimal government interference in markets.
★Friedman gave it its most famous voice, arguing that controlling the money supply is the key to economic stability.
★His major works include Capitalism and Freedom (1962) and Free to Choose (1980).
★Adam Smith is a classical economist, while Carl Menger and Friedrich Hayek belong to the rival Austrian School, so none of them fits.
★So Milton Friedman is the correct answer.
Want more like this? Create a free account to practise a full test, track your progress, and get spaced-repetition review.
Shared by Mcqkart · via Mcqkart.in