Every Friday afternoon the GSB has a Liquidity Preference Function (LPF). It's a nice time to get some sustenance (sponsored by a company) and drink. The term is actually a relationship developed by John Maynard Keynes around 1936. You can read more about the real Liquidity Preference Function if you like.
Interestingly enough Keynes is really not in line with the Chicago school of economics. For the longest time, Chicago was the only school in America not swept by the Keynesian Revolution... It's well worth the read if you're at all interested in various economic theories.
Posted by Jeremy Showalter at October 1, 2004 03:11 PMhmm,interesting. pretty geeky though.
when i signed up for Fall Preview, I noticed that prospectives get to go to one of these Liquidity Preference Functions, and I swear I thought it referred to an event for consuming liquids you preferred ;-)
Posted by: poweryogi at October 1, 2004 05:14 PMInteresting. At Michigan we call it "tailgating" or "happy hour". To each their own.
Posted by: Zachary at October 1, 2004 07:20 PMYup, Kellogg calls theirs something else too...and I know Columbia has a similar event. I think it's a fairly standard structure.
Posted by: Jeremy at October 1, 2004 09:00 PM
I believe "Austrian" is pretty similar to Chicago economics. Check out mises.org for details.
Oh yeah, that was me.
Posted by: KC at October 4, 2004 09:51 AMKC,
Correct. I'm currently reading Hayak's 'Road to Serfdom' who was at Chicago for a while after WW II. :)
Posted by: Jeremy at October 4, 2004 10:13 AM
I knew I minored in Econ for a reason...