Chicago SchoolChicago School
- A group of US architects of the late 1800s to early 1900s, including William Le Baron Jenney and Louis Sullivan, noted for their utilitarian designs and their use of steel framing as a skeleton for multistory buildings.
- An approach to economics that emphasizes monetarism and disfavors government intervention in the free-market economy as inherently inefficient.
Origin of Chicago SchoolSo called because many important figures in the school were active in Chicago, Sense 2, so called because important advocates of the approach were University of Chicago faculty members.
Wainwright Building, designed by Louis H. Sullivan
St. Louis, Missouri
chicago school - Investment & Finance Definition
Monetary theories that are closely linked with Milton Friedman, a noted monetarist and long-time professor at the University of Chicago. The monetarist theories that the Chicago School espouses say that the quantity of money in circulation and its rate of growth determines the level of economic activity and whether inflation occurs.