Our main contention is that two different re-conceptualizations of liberal democracy took place among Chicago economists in the postwar period. The first emerged out of Frank H. Knight's ruminations in the 1930s on the failures of liberalism. By the 1940s, Knight devoted most of his attention to...

Where should we place Frank Knight in the passage from classical liberalism to neo-liberalism? The argument has recently been made by that Knight should be placed among the group of liberals of an “older generation” that neo-liberals generally, and the Chicago School in particular, separated...

Colander and Freedman draw a much larger circle around recent criticisms of the economics discipline, arguing that the source of “where economics went wrong” lies in the discipline's sublimation of the art of economic policy to its scientific counterpart. Whereas classical liberal blended...