Economics as we know it today evolved from a fundamental reconstruction carried out instrumentally by a small group of young economists in the immediate post-war period. The major contending forces were those supporting the Keynesian revolution in the US and the counter-revolutionaries spearheaded by members affiliated with the University of Chicago (the Chicago School). George Stigler was one of the motivating figures behind the Chicago counter-revolution that did so much to reshape the course of modern economics, and he was instrumental in restoring price theory to its position at the heart of economic analysis. In 1982 George Stigler won the Nobel Memorial Prize in Economics. Not only did Stigler reinstate and re-emphasize price theory as the only viable basis for progress in the economics discipline, but he also championed and relentlessly promoted the idea of quantification and empirical verification of any theory in economics. This volume places modern economics in perspective by looking at the way in which Stigler’s work helped shape the discipline. Since this work is not in the distant past, how it influenced economics is still largely unexplored. Comprehensive, well balanced and authoritative, this collection, supported by leading figures in the field, sheds light on issues of the past and, even more so, helps us to understand the issues which economists continue to grapple with today. Contributions draw upon the connections between Stigler’s ideas and their subsequent impact. Understanding the past is crucial for developing a wide ranging economic intuition with which to tackle continuing fundamental problems facing economists and society today.  weiterlesen