Vienna & Chicago, Friends or Foes?: A Tale of Two Schools of Free-Market Economics
Is the bridge between the Austrian and Chicago schools coming together or moving apart?In his new book, Vienna and Chicago, Friends or Foes? economist and author Mark Skousen debates the Austrian and Chicago schools of free-market economics, which differ in monetary policy, business cycle, government policy, and methodology. Both have played a successful role in advancing classic free-market economics and countering the critics of capitalism during crucial times and the battle of ideas. But, which of the two is correct in its theories?Vienna and Chicago, Friends or Foes? includes interviews with economists in both camps, uncovering their strengths and weaknesses. At the end of each chapter, Skousen declares who’s right and who’s wrong either with "Advantage, Vienna," or "Advantage, Chicago." The results are surprising, and Professor Skousen ends his provocative and timely work by attempting to foster common ground between these two warring schools.From the Chicago school:  "This tale is thorough, thoughtful, even-handed, and highly readable. All economists, of whatever school, will find it both instructive and entertaining." —Milton Friedman   From the Austrian school:  "In his upbeat tale of two schools, Skousen gives us a delightful blend of theory, history, and political science, and shows that there is much common ground and scope for development." —Roger W. Garrison