Link Exchange with Bruce's Booklist
The post-war economics department after World War ll was classically liberal, and advocated government intervention, regulation, services for the economically disadvantaged, and higher taxation. The University was not yet identified as a "school of economics." Eventually, Milton Friedman, an economic empiricist, transitioned to a philosopy of less taxation, less government regulation, and the sanctioning of societal inequities which helped to fuel and propel the 80's capitalist, Laissez Faire economy. After President Reagan, President George W. Bush was the chief adherent to this economic philosophy.
This fascinating book takes us through the early development of the economics department at the University to its current incarnation. A number of important economists taught and/or studied at the University. Even though they may not be well-known outside the field, their influence, culminating in the work of Dr. Milton Friedman, has strongly impacted today's global market. Both the concept of liberal economics as well as the evolution of the science of economics itself are elaborately clarified througout the book. The reader will make his/her personal judgement about the economic philosophy propagated by Dr. Friedman and the later Chicago School. A wrong turn in the history of the United States? An inevitable transition? Lanny Ebenstein is a lecturer at the UCSB He has written 10 books of economic thought, including the first biographies of economists Frederich Hayek and Milton Friedman.
Are you are bibliophile? Comments and Link Exchange