Are there any famous Chicago economists who ditched Keynesianism for Austrian economics?

Economics Dec 12, 2020

Expert Solution

The Chicago economist supported monetarism and rejected Keynesianism economics. However, until the mid-1970s, The Chicago School of economics favored the new classical macroeconomics which was based on the concept of rational expectations.

Therefore, there was no Chicago economics that supported the Austrian economics.

The Austrian school of thought believed the working of the economy is the addition of smaller decisions and actions of individual

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