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 whos right and whos 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
Understanding the difference between the Austrian and the Chicago schools of thought in economics can be tricky, and at times confusing. Read morePublished on April 26, 2012 by Antonis
I've struggled to get a clear explanation of the differences between monetarists and austrian economists. No more!!.. Read morePublished on March 2, 2012 by Robert Kirk
Any student of economics should read this fascinating book. Skousen covers a neglected school of thought known as Austrian economics--a discipline rarely discussed on TV or in the... Read morePublished on October 26, 2011 by J. Davis
The author has taken lots of effort to dig up the information about both schools: the Chicago school led by Milton Friedman and Austrian school led by Mises. Read morePublished on June 5, 2011 by Anandasubramanian
Almost every Ph.D. program in Economics around the world teaches Neoclassical Economics as the correct way to model economic activity. While writing my Ph.D. Read morePublished on October 8, 2009 by Herbert Gintis
Overall, I really liked this book. The opportunity to gain insight into the differences and similarities between the two big free-market schools of economic thought from one of... Read morePublished on July 28, 2009 by Riles Drey
A very good book. The history and the theories of the Austrian School and the Chicagoan School written in a very plain and understandable way. Read morePublished on September 8, 2008 by Massimo Ferrari
In this book Mark Skousen compares and contrasts the ideas of the two most prominent schools of free market economics. Read morePublished on May 14, 2008 by Doug
Those interested in economic history as well those who sympathize with the Chigaco or Austrian Schools will find this to be a great read. Read morePublished on July 6, 2007 by Michael J. Morin