Friday, September 9, 2016

Book Reviews: The Chicago School

When I saw this book I knew I had to pick it up. I am a business major and love all things economics. The Chicago School tells the story of how the University of Chicago assembled a team of great thinkers who revolutionized economics and business. 

I disagree with a lot of the reviews of this book. This book wasn't bad in my humble opinion. There are many things in this book I really liked. I felt like at points I ate the information up and wanted even more.

I loved the discussion of actual ideas. The talk about methods, I really wanted that to be expanded upon. I really enjoyed the topics of socioeconomic issues like race, poverty, jobs, and various other issues. About how much politics influences our economic system.

The biggest thing I disliked about this book was that the author spend so much time talking about tedious biographical data, which to be honest was a very time consuming to read. I am not an economist so I had to stop repeatedly to look up terms in order to grasp the concepts he was talking about.

I feel that this really weighed the book down. It made it a chore to read. I would have preferred more information about how Chicago became a major economic hub. I think it would have been interesting to read bout the various economic theories. I would have preferred to learn more about how Chicago shaped those modern theories

The other thing that is important to point out is biased. This author clearly is extremely interested in Chicago. To be honest I believe this influences his views and opinions. I don't believe he is able to be truly unbiased. He doesn't question the Chicago school of thought enough. It's all very one sided.

It is important to learn about the author, Johan Van Overtveld , Ph.D., is extremely knowledgeable in these areas. He is the director of the Belgium-based think tank VKW Metena, which works on a breadth of economics-related issues. Formerly, the editor-in-chief of a Belgian newsmagazine Trends, he has written many books and contributes to the Wall Street Journal Europe as well as other financial publications. He is currently the Minister of Finance of Belgium

I feel like this book does a great job at presenting this information at an entry level for beginners like me, but also is advanced for people who have more experience. I really recommend this book to anyone.

I was provided a free copy by Agate Publishing in exchange for my honest and completely unbiased review. All thoughts and opinions are my own. 

Book Description: 

When Richard Nixon said “We are all Keynesians now” in 1971, few could have predicted that the next three decades would result in a complete transformation of the global economic landscape. The transformation was led by a small, relatively obscure group within the University of Chicago’s business school and its departments of economics and political science.

 These thinkers — including Milton Friedman, Gary Becker, George Stigler, Robert Lucas, and others — revolutionized economic orthodoxy in the second half of the 20th century, dominated the Nobel Prizes awarded in economics, and changed how business is done around the world. 

Written by a leading European economic thinker, The Chicago School is the first in-depth look at how this remarkable group came together. Exhaustively detailed, it provides a close recounting of the decade-by-decade progress of the Chicago School's evolution. As such, it's an essential contribution to the intellectual history of our time.

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