DEFINITIONS - UNDERSTANDING THE THEORY OF PURE ECONOMIC, FINANCIAL OR ECONOMIC HISTORY OF ECONOMIC

Market as the main mechanism in solving economic problems, provided the political support of intellectual freedom; the flow of the Chicago economists view the economy as a condition necessary but not sufficient condition for creating a free society, the management of administrative and economic policy interventions will be ad hochanya damaging the economic situation, in terms of monetary and fiscal policy, it emphasizes the importance of continuity of flow; monetarism is considered better than fiskalisme in the regulation of macroeconomic, fiscal policy is believed to be the appropriate vehicle for alleviating poverty, but for the redistribution of income above the poverty line would be more many result in losses as well as disciplinary imperialism that highlight the application of economic analysis by economists of all fields that are usually regarded as other disciplines / external such as history, politics, law, and sociology. This flow of opinion on a number of important issues such as trade regulations and monetary policy has changed several times during the years of development. Simons, for example, believe that the maintenance of an active competition policy through the implementation of strict anti-monopoly law should take precedence, while Friedman and Stigler would argue that monopolies and oligopolies is only temporary and in the long term is not too important. Simons also argues that monetary policy should be based on a certain price level. This means that the government should conduct monetary expansion if the price level down, and otherwise implement monetary policy kontraksioner if price levels were rising. Friedman is impressed by the inertia reaction to changes in monetary price level, it suggests a constant monetary growth. After retirement and death of Stigler, Friedman and his retirement and then moved to the Pacific coast, the flow of the Chicago economists lost some of his insights about public policy so that more economists get Nobel prizes and other awards on the basis of their contribution in pure economic theory, financial economics or economic history. In macroeconomics, Robert Lucas has emerged as a leader in a "new classic" or "rational expectations" for their pioneering research in monetary and financial economics. Even in the mid - 1990s, Lucas and Gary Becker did not have much to discuss public policy is considered as a role model the flow of Chicago, replacing Friedman and Stigler. Two of the best work that can embrace the doctrine of Chicago this is the work of Simons (1938) entitled Economic Policy for a Free Society, and the work of Friedman (1962), entitled Capitalism and Freedom.