Question: The Chicago Boys were a group of Chilean economists prominent around the 1970s and 80s, the majority of whom trained at the Department of Economics of which organization, under Milton Friedman, was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy?

James Tobin (March 5, 1918 – March 11, 2002) was an American economist who served on the Council of Economic Advisers and the Board of Governors of the Federal Reserve System, and taught at Harvard and Yale Universities.  He developed the ideas of Keynesian economics, and advocated government intervention to stabilize output and avoid recessions. His academic work included pioneering contributions to the study of investment, monetary and fiscal policy and financial markets.  He also proposed an econometric model for censored endogenous variables, the well-known "Tobit model".  Tobin received the Nobel Memorial Prize in Economic Sciences in 1981. <SEP>  With George Stigler and others, Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago's Department of Economics, Law School, and Graduate School of Business from the 1940s onward.  Several students and young professors that were recruited or mentored by Friedman at Chicago went on to become leading economists; they include Gary Becker, Robert Fogel, Thomas Sowell, and Robert Lucas, Jr. Milton Friedman ( ; July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy. <SEP> The “Miracle of Chile” was a term used by Nobel laureate economist Milton Friedman to describe the reorientation of the Chilean economy in the 1980s and the benefits of the economic policies applied by a large group of Chilean economists who collectively came to be known as the Chicago Boys, having studied at the University of Chicago where Friedman taught.  He said the “Chilean economy did very well, but more importantly, in the end the central government, the military junta, was replaced by a democratic society.  So the really important thing about the Chilean business is that free markets did work their way in bringing about a free society.”  The junta to which Friedman refers was a military government that came to power in a 1973 coup d'état, which came to an end in 1990 after a democratic 1988 plebiscite removed Augusto Pinochet from the presidency. <SEP> The Chicago Boys were a group of Chilean economists prominent around the 1970s and 80s, the majority of whom trained at the Department of Economics of the University of Chicago under Milton Friedman and Arnold Harberger, or at its affiliate in the economics department at the Pontifical Catholic University of Chile.  Upon their return to Latin America they adopted positions in numerous South American governments as economic advisors, many of them reaching high positions.  The Heritage Foundation credits them with transforming Chile into Latin America's best performing economy and one of the world's most business-friendly jurisdictions.  However, critics point to drastic increases in unemployment that can be attributed to policies implemented on their advice to fight inflation.  Some (such as Nobel laureate Amartya Sen) have argued that these policies were deliberately intended to serve the interests of American corporations at the expense of Latin American populations.  Peter Kornbluh states that in the case of Chile, American attempts to influence the Chilean economy ceased once the Chicago Boys had gained political influence; this may have been the true underlying cause of the subsequent increase in economic growth.