Chicago is a Powerhouse

Nice piece on the fall of Harvard and the rise of Chicago.

Harvard is also a much less important intellectual hub than it once was. The University of Chicago, for one, has wielded much more influence in recent decades. It is no exaggeration to say that Chicago laid the intellectual foundation for the conservative ascendancy and nurtured the ideas that now drive the debate over economic policy, legal theory and foreign affairs. The key ideas of the so-called Reagan Revolution, including monetarism and deregulation, trace their origins back to the free-market theorizing of Chicago's economics department. (One striking measure of the department's clout: Of the 55 economists awarded the Nobel Prize since 1969, when economics was added to the roster, 10 have taught at Chicago and an additional 13 either trained at Chicago or had previously taught there. Harvard, by contrast, has had four faculty winners.)

One of those Chicago Nobel laureates, Ronald Coase, is acknowledged to be the godfather of law and economics, unquestionably the most influential branch of legal theory in the past quarter-century. (It applies economic reasoning to legal questions.) And while Harvard certainly has its superstars, when you look at the people who have taught at Chicago in the past 40 years or so--Milton Friedman, Richard Posner, Allan Bloom, Leo Strauss, Robert Lucas, Albert Wohlstetter, Richard Epstein, Leon Kass, Saul Bellow, Martha Nussbaum--it is pretty clear which school has been giving off more heat.

via Maroonblog