The Chicago School of Economics is a school of thought that emphasizes the benefits and efficiency of free markets over centrally planned economies.
A monetarist is an economist who believes that the money supply is the key to the ups and downs in the economy. Monetarists, such as the late Milton Friedman, think that the money supply has far more impact on the economy's future course than, say, the level of federal spending.
Normative economics is a branch of economics that discusses what the economic goals and policies of society should be, often reflecting personal values or opinions. It contrasts with positive economics, which aims to understand how the economy operates.
