Posted by: Louis Lavelle on May 16, 2008
It looks like the University of Chicago is establishing a research center in honor of the contributions made by the granddaddy of 20th century economic thought, Milton Friedman, a long-time Chicago faculty member who died in 2006 at the age of 94.
The university will be spending about $200 million to set up an operating endowment and fund other start-up costs. Alumni and business leaders are expected to foot the bill. The new institute will occupy a building that now houses the Chicago Theological Seminary, not too far from the Graduate School of Business. (The Seminary will get a new home, details TBA.) The whole thing should get going this fall.
"The goal of the Institute is to build on the University’s existing leadership position and make the Milton Friedman Institute a primary intellectual destination for economics by creating a robust forum for engagement of our faculty and students with scholars and policymakers from around the world,” said President Robert J. Zimmer. “The Milton Friedman Institute will continue Chicago’s extraordinary tradition of creating new ideas that stimulate the academic world and innovative approaches that influence policy."
GSB Dean Ted Snyder says the new institute will act as a magnet for top faculty and students--what's everybody think?