Chicago School

Chicago Libertarianism is a kind of Libertarian, Economically Far-Right, and Culturally Neutral but sometimes left-leaning political ideology.

It's quite often used to refer to Neo-Liberalism, even though economists from this school have never self-referred 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 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, 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 than in academic circles.