Frank Knight and the Chicago School
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Frank Knight (1885-1972) fathered the famous Chicago School of Economics, whose members
are among the most decorated in history. An abstract theorist, Knight emphasized the role of risk and uncertainty
in economic affairs, and was philosophically concerned with such topics as means vs. ends, economics as a
study of human nature, and human communication. Although Knight did not create a systematic economic theory,
his keen critical eye and his biting wit make him one of the most colorful and provocative of all the great economists.
Great Economic Thinkers is a collection of audio presentations that explain, in understandable language, the major
ideas of history’s most important economists. Special emphasis is placed on each thinker’s attitude toward capitalism,
revealing their influence in today’s debate on economic progress and prosperity.
University of Nebraska at Omaha