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“The Initiated”: Aaron Director and the Chicago Monetary Tradition

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  • Tavlas, George S.
  • Assistant, JHET

Abstract

Aaron Director taught at the University of Chicago from 1930 to 1934 and from 1946 to 1967. Both periods corresponded to crucial stages in the development of Chicago monetary economics under the leaderships of Henry Simons and Milton Friedman, respectively. Any impact that Director may have played in the development of those stages and to the relationship between the views of Simons and Friedman has been frustrated by Director’s lack of publications. I provide evidence, much of it for the first time, showing the important role played by Director in the development of Chicago monetary economics, including his role as a transmitor of Simons’s ideas to Friedman.

Suggested Citation

  • Tavlas, George S. & Assistant, JHET, 2020. "“The Initiated”: Aaron Director and the Chicago Monetary Tradition," OSF Preprints xw67b, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:xw67b
    DOI: 10.31219/osf.io/xw67b
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    References listed on IDEAS

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    1. George S. Tavlas, 2015. "In Old Chicago: Simons, Friedman, and the Development of Monetary‐Policy Rules," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(1), pages 99-121, February.
    2. George S. Tavlas, 2020. "On the controversy over the origins of the Chicago Plan for 100 percent reserves," Working Papers 279, Bank of Greece.
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    6. Harris Dellas & George Tavlas, 2019. "The dog that didn’t bark: the curious case of Lloyd Mints, Milton Friedman and the emergence of monetarism," Working Papers 264, Bank of Greece.
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    11. Stigler, Stephen M, 2005. "Aaron Director Remembered," Journal of Law and Economics, University of Chicago Press, vol. 48(2), pages 307-311, October.
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