"given that Chicago is broadly seen as discredited by the recent crash" By whom exactly? Mostly by those who tend to propagate further government influence on

"given that Chicago is broadly seen as discredited by the recent crash" By whom exactly? Mostly by those who tend to propagate further government influence on the markets. There are equally valid arguments which were made that government intervention in mortgage markets, fed policy etc. caused the crisis and the crisis could have been averted by having a truly free market. I just want to point out that you seem to be influenced by biases as well. To point out other people's biases but not to acknowledge your own seems unfair. That is why that whole 'lessons from the crash' thing is so difficult to grasp. Because everyone's analysis is ridden with pre-conceived notions and biases, it's hard to make out the actual truth.