20th century American economist of the Chicago School


Frank Knight - Wikipedia, the free encyclopedia
"Frank Hyneman Knight (November 7, 1885 - April 15, 1972) was an important economist in the first half of the twentieth century. A founder of the Chicago school, he authored the book Risk Uncertainty and Profit, arguing the perfect competition would not eliminate profits due to uncertainty. ..."


7 Nov 1885, in White Oak, McLean County, Illinois


15 Apr 1972, in Chicago


Best of Both Worlds: Milton Friedman reminisces about his career as an economist and his lifetime "avocation" as a spokesman for freedom, by Milton Friedman, Brian Doherty, Reason, Jun 1995
Topics discussed include: the new Congress, flat taxes, the withholding tax, the people who influenced him, what led him to write about policy issues, libertarianism and how his political views have changed over the years
"I was exposed as an undergraduate at Rutgers to two very strong influences: Homer Jones, who was a student of Frank Knight's from Chicago, and Arthur Burns. ... Thanks to Homer, I was offered a scholarship at the University of Chicago and I went to Chicago and studied with Frank Knight, Jacob Viner, Henry Schultz, and so on. ... I got a very good grounding in economic theory and statistics as well."
The life and times of F.A. Hayek, who explained why political liberty is impossible without economic liberty, by Jim Powell
Lengthy biographical essay, with extensive quotes both from Hayek and others (including Keynes)
"Then Machlup showed the page proofs [of The Road to Serfdom] to Aaron Director, Milton Friedman's brother-in-law. Presumably it was Director who sent the page proofs to Frank Knight, the most influential thinker in the University of Chicago's economics department. Knight, in turn, seems to have urged the book on William Couch, editor of the University of Chicago Press, and the decision was made to publish it."