Download e-book for iPad: Activist Guide to Exploiting Media by George Mombiot

By George Mombiot

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S_aiicrother developments. fhe growth of gov��ent_regulation also created a -demandforeconomists to advig_an

The post-World War II Chicago School, led by Milton Friedman and George Stigler, has been more political, right-wing, and intellectu ­ ally opportunistic. On the monopoly issue, for example, in contrast with Simon's 1932 position, the post-World War II School's preoccu­ pation was to dispute the importance and damaging effects of monop­ oly and to blame its existence on government policy. S. and IMF policies toward the Third World, in its pioneering service, through the "Chicago boys," as advisers to the Pinochet regime of Chile from 1973 onward.

In Stigler's own analysis, the disper­ sion of price ratios was also substantially lower in the post-SEC period, but Stigler "reinterpreted" the test, retrospectively claiming that the lower dispersion meant that regulation had reduced the willingness of risky firms to enter the market (this is Diesing's item 3 in the list given above of Friedman's methods of "testing"). Ironically, Stigler had writ· ten an earlier article on "The Economics of Information," whose main theme was that increased information reduces price dispersion, which he implied was beneficial and desirable.

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Activist Guide to Exploiting Media by George Mombiot


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