"Over the past forty years, economists associated with the University of Chicago have won more than one-third of the Nobel prizes awarded in their discipline and have been major influences on American public policy. Building Chicago Economics presents the first collective attempt by social...

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...