Marshall Forum 2024: The New Chicago Economics

The 2024 Marshall Forum held a panel on Chicago Economics, debating its focus on big questions, data-driven research, and the role of markets. Panelists discussed a move away from pure market efficiency to a growing focus on inequality within the field.

A panel discussion at the Marshall Forum 2024 on June 18 explored the New Chicago Economics, debating its core tenets and potential evolution. Eric Budish, Amir Sufi, and Luigi Zingales discussed what defines the field, its emphasis on grand economic questions, and data-driven research. While acknowledging a historical focus on markets and a shift away from absolute market efficiency, the panelists highlighted a current debate on theory versus data-centric approaches. They also agreed that income distribution and inequality are receiving more attention within Chicago Economics today, compared to the past, while the legacy of Milton Friedman and the role of government remain topics of debate.

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