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« GMU Job Market Candidates | Main | Leonard Liggio (1933-2014) »

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George Stigler from 1988 Memoirs (p168):
"Even when a school [of thought] wins over its rivals, as Chicago did in the area of industrial organization from 1960 to 1980, the victory is not permanent. Nor should it be if victory involves freezing research in a new pattern. The most recent development in industrial organization is the emergence of game theory... This literature is closely related in spirit to Chamberlinian economics [of imperfect / monopolistic competition]: It is much more rigorous (as well it should be, fifty years later) but has not shown equal gains in empirical motivation or empirical applicability."

Is this still true?

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