![[ Milton Friedman was] the dominant member of the so-called Chicago school of economics [during his tenure at Chicago]... The economics department increasingly reflected his approach and interests. These included deep commitment to the truth, appreciation of markets and free enterprise, frank and blunt discussion, and enormous zeal to convince the heathen. But most important was the commitment to economic analysis as a powerful instrument for interpreting economic and social life. (Gary Becker)](https://cdn.quotesdtb.com/img/quotes_images_webp/09/gary-becker-analysis-appreciation-422109.webp)
[ Milton Friedman was] the dominant member of the so-called Chicago school of economics [during his tenure at Chicago]... The economics department increasingly reflected his approach and interests. These included deep commitment to the truth, appreciation of markets and free enterprise, frank and blunt discussion, and enormous zeal to convince the heathen. But most important was the commitment to economic analysis as a powerful instrument for interpreting economic and social life.
Gary BeckerRelated topics
approach deep department dominant economics frank free heathen school tenure truth Milton FriedmanRelated quotes
Our debt to Hayek is very substantial. He helped to establish a freedom-based approach of evaluation through which economic systems can be judged (no matter what substantive judgments we arrive at). He pointed to the importance of identifying those services that the state can perform well and has a social duty to undertake. Finally, he showed why administrative psychology and propensities to corruptibility have to be considered in determining how states can, or cannot, work and how the world can, or cannot, be run.
Amartya Sen
The House will forgive me for quoting five democratic questions that I have developed during my life. If one meets a powerful person-Rupert Murdoch, perhaps, or Joe Stalin or Hitler-one can ask five questions: what power do you have; where did you get it; in whose interests do you exercise it; to whom are you accountable; and, how can we get rid of you? Anyone who cannot answer the last of those questions does not live in a democratic system.
Tony Benn
[T]here could be no guarantee in a free market that the interests of race or state as Hitler defined them would take priority over the interests of businessmen or consumers. After 1933 the role of the state in regulating and directing economic life increased sharply, first in order to encourage economic revival, then to divert economic resources to the growth of German military power... [which] led, in an unplanned, incremental way, to the establishment of a kind of command economy.
Richard Overy
Cross-cultural studies presuppose a systems approach, by which I mean that any element of the total system called ``culture'' should be eligible for analysis, regardless of the discipline that usually deals with such elements. At the level of (national) cultures, these are phenomena on all levels: individuals, groups, organizations, or society as a whole may be relevant. There is no excuse for overlooking any vital factor because it is usually treated in someone else's department at the university.
Geert Hofstede
Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much. However, careful economic analysis does have one important benefit, which is that it can help kill ideas that are completely logically inconsistent or wildly at variance with the data. This insight covers at least 90 percent of proposed economic policies.
Ben Bernanke