Chicago School
"A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both."
Milton Friedman
Chicagoan Libertarianism is a kind of libertarian, economically moderately right to far-right, and culturally neutral but sometimes left-leaning political ideology.
It is used quite often to refer to 
Neoliberalism, although only a few economists of this school have referred to themselves as neoliberals.
It is quite a simple ideology, it's 
Libertarianism based on the thought of the Chicago School of Economics, which is a Neoclassical school of economics associated with the University of Chicago, mostly known for the Libertarian economist of second generation, and Nobel prize winner, Milton Friedman.
Within the precise ideas on economic believes, it is associated with the rejection of 
Keynesianism in favor of 
Monetarism (Which states that it's desirable to have a Monetary policy controlled by the government as long as it expands money supply consistent with GDP growth) until the mid-1970s when it turned to new classical macroeconomics strongly based on the concept of rational expectations. Specifically, 
Neo-Keynesian economics was developed as a response to new classical economics and Friedman's critiques to Keynesianism, electing to incorporate the idea of rational expectations without giving up the traditional Keynesian focus on imperfect competition and sticky wages.
Chicago economists have also left intellectual influence in other fields, notably in pioneering public choice theory and law and economics, which have led to revolutionary changes in the study of political sciences. The school also has some research done that has left some impact in fields as diverse as social economics and economic history. Thus, there is not a clear delineation of the Chicago school of economics, a term that is more commonly used in the popular media to refer to Friedmanite economics rather than being used in actual academic circles.
History
Personality and Behaviour
Chicago Libertarians behave as an average kind of moderate Libertarian economist.
How to Draw
ChicagoLib's design is a combination of the Chicagoan and Gadsden flags
- Draw a ball,
- Draw the flag of Chicago (2 horizontal light-blue lines, with 2 red stars between them',
- Draw a black Gadsden snake,
- (Optional) Below the snake draw some variation of the words "Don't tread on me",
- Draw the eyes, and you're done!
| Color Name | HEX | RGB | |
|---|---|---|---|
| Light Blue | #C9F1FF | 201, 241, 255 | |
| Red | #FF0000 | 255, 0, 0 | |
| Black | #141414 | 20, 20, 20 | |
Relationships
Friends
Hayekism - My more radical nephew who wants to completely free the banking sector.
Paleolibertarianism - A bit more traditional sibling.
Anarcho-Capitalism - A very extremist cousin.
Libertarianism - My father who's got almost the same beliefs as me.
Neoliberalism - My best known son.
Social Libertarianism - Libertarianism and UBI is good and all, but whats this about regulationism?
Classical Liberalism - My moderate Grandpa.
Austrolibertarianism - Good guy! Wish he liked my monetarist policies, though.
Monetarism - My forgotten son.
Frenemies
Paleoconservatism - He used to be a cool guy back in the day, but now he's a protectionist that doesn't value free trade, also way too statist.
Pinochetism - I've already said it but I'll say it again; I never advised Pinochet, I never endorsed Pinochet. (However, there was a miracle in Chile's economy!)
Reactionary Liberalism - Old 
Paleocon, also a fan of above.
Third Way - Neolib, but too willing to compromise with Keynesians
Thatcherism
Enemies
Social Democracy - They have corrupted the Western societies with their inefficient bureaucracy and their welfare states.
Keynesianism - Way too statist, and he doesn't even know the basics of economics. Your 
son is cool though.
National Socialism - They want to treat people differently before law, and killed several millions of people.
Marxism–Leninism - Socialist and authoritarian. No. Just no.
Further Information
Wikipedia
- Chicago school of economics
- Milton Friedman
- Permanent income hypothesis
- Natural rate of unemployment
- Negative income tax
- Quantity theory of money
- Monetary disequilibrium theory
- School voucher
Literature
- a program for monetary stability by Milton Friedman
- Capitalism and freedom by Milton Friedman
- Optimum Quantity of Money and other essays by Milton Friedman
Gallery
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