Editing Neoliberalism (section)

=== Chicago School ===
{{Chicago school sidebar|expanded=movements}}
The [[Chicago school of economics]] is a [[Neoclassical economics|neoclassical]] school of thought within the academic community of economists, with a strong focus around the faculty of the [[University of Chicago]]. Chicago [[macroeconomic]] theory rejected [[Keynesianism]] in favor of [[monetarism]] until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of [[rational expectations]].<ref name=ElgarComp>{{cite book |last=Emmet |first=Ross |title=The Elgar Companion to the Chicago School of Economics |date=2010 |publisher=Edward Elgar Publishing Ltd. |isbn=978-1840648744 |page=133 |display-authors=etal}}</ref> The school is strongly associated with University of Chicago economists such as [[Milton Friedman]], [[George Stigler]], [[Ronald Coase]] and [[Gary Becker]].{{sfnp|Mirowski|Plehwe|2009|p=37}} In the 21st century, economists such as [[Mark Skousen]] refer to [[Friedrich Hayek]] as a key economist who influenced this school in the 20th century having started his career in Vienna and the Austrian school of economics.<ref name="Skousen"/>

The school emphasizes non-intervention from government and generally rejects regulation in markets as inefficient, with the exception of the regulation of the money supply by central banks (in the form of [[monetarism]]). Although the school's association with neoliberalism is sometimes resisted by its proponents,<ref name="ElgarComp" /> its emphasis on reduced government intervention in the economy and a ''[[laissez-faire]]'' ideology have brought about an affiliation between the Chicago school and neoliberal economics.<ref name="FPIF-20042"/><ref name=Biglaiser>{{cite journal |last=Biglaiser |first=Glen |title=The Internationalization of Chicago's Economics in Latin America |journal=[[Economic Development and Cultural Change]] |date=January 2002 |volume=50 |issue=2 |doi=10.1086/322875 |pages=269–86 |jstor=322875 |s2cid=144618482}}</ref>