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The decay rampant multiculturalism, feminism, deconstructionism, intellectual fashion and other radical tendencies, on almost every branch of study in American universities. But the economy seems to have developed an immunity against these diseases. He is one of the few disciplines where the ideology of radical left, he ignored the root. Market capitalism - Anathema to the largest portion of the professoriate - prosper in the economy sciences departments, where Keynesians were unable to prevent the growth of the various branches of the classic free market thinking. This lack of political correctness is one reason why the U.S. economy are regarded as programs among the best in the world, while the humanities and most other social sciences attract fewer students.

The University of Chicago - once ordered the heights of free market economic thinking - is no longer alone at the top. Some ideas that come from Chicago broadcast throughout the nation departments of economics and many countries top young economists are now in schools like the University of California at Los Angeles (UCLA), University of Minnesota , And George Mason University in Virginia.

The following is a brief description of some of the best in the generation of aufgehenden free market-oriented economists. They are the fight against the controversial issues, such as the legacy of Reaganomics, the privatization of economies of the former Soviet bloc and the prospects for the Third World economic development.

GAP KIDS

In leading to the increase in income inequality years 1980? Many economists argue that the wage gap has been caused by the passage of the tip of payment jobs in production to reduce the paid service sector jobs, the working class. But Kevin Murphy of the University of Chicago, sees another explanation. He and UCLA Finis Welch’s show that people with university degrees are more and more merit than non-degree holders, but widens the gap precipitously during 1980. His article “The Structure of Wages”, originally published in The Quarterly Journal of Economics, shows that in the years 1980, possession of a university degree, it was much more important than ever for economic success.

Murphy are two reasons for this. For years 1980, degree holders have been more valuable to a trend of declining supplies of graduates. At the same time, there was an increased demand for training and qualification to work.

During 1970, university graduates deserves to about 40 per cent more than High School-graduatcs. In 1980, the gap had decreased to about 25 per cent. But in 1985, had widened the gap, 55 per cent. According to Murphy, this is explained by the fact that universities have been flooded with students of baby boomers in the years 1970, and the extent of flooding during 1980. Murphy said that even within the same profession, the degree holder has done far less on the age of the cooperative. For example, during the years 1980, the university trained secretary outearned degree of non-exploitation of secretaries by a huge margin. Murphy says that people of advanced level continues to earn money throughout their lives. Recent graduates in the labour market can expect to earn hundreds of thousands of dollars more during their lives, as such with only a High School graduate.

Employers are looking for well-trained, more than ever before. Through mid-1980, almost three times as many people held College degrees during the late 1960. The danger lies in the fact that those who do not deserve lower college level is decreasing. In another article, published in American society, Murphy This study examines the economic suffering of black Americans: “The crucial point is that the failure of our national education system to provide Blacks with the quantity and quality of education necessary for competition in the labour market today may be a reason for the lack of economic progress for blacks in recent years. ”

Murphy and Gary Becker Nobelist intellectual ammunition favorable choice for school. They argue that public schools are in fact deprived of their separation, as they attract all students in the same neighbourhood. Private schools, students from different fields and are admitted free of tuition fees are generally higher in practice. The authors argue in favour of a good system, with a view to greater integration.